Latest Search
Quote
| Back Zoom + Zoom - Top | ||||
|
<Research>CICC: CHINA TELECOM Service Rev. Growth Solid w/ Strict Cost & Expense Control
Recommend 7 Positive 19 Negative 8 |
||||
|
||||
|
CHINA TELECOM (00728.HK)'s service revenue grew solidly, as its 1Q24 revenue and net profit gained 3.8% and 7.7% YoY, in line with CICC's expectations, CICC wrote in a report. The report said the company's service revenue grew strongly in 1Q24, up 5% YoY. Costs and expenses, excluding R&D expenses, rose less than revenue growth, reflecting strict cost and expense control. CICC slightly cut its revenue forecasts for 2024 and 2025 by 0.9% and 1.9% respectively, while largely maintaining its earnings forecasts for the two years. The broker kept an Outperform rating on the H-shares, with a target price of $5.8. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
