Tencent Races to the Top Spot as Biggest Company in Asia

ChinaYibada — Reports were released Monday revealing that Tencent is now the largest Asian company and had overtaken Alibaba. Tencent’s current market value is at HK$1.99 trillion or $255.8 billion.Li Chengdong, a Beijing-based independent e-commerce strategy ­analyst, said, “Tencent’s market value is based on its current and previous good financial situation, which is driven by the company’s core businesses including advertisements, games, e-commerce and financial services.”



,China Telecom Net Profit Up 6.3% In H1 2016

ChinaChina Tech News — During the first half of 2016, China Telecom’s operating revenue reached CNY176.82 billion, a year-on-year increase of 7.2%; while its net profit reached CNY11.673 billion, a year-on-year increase of 6.3%. At the same time, China Telecom reported service revenue of CNY155.222 billion, a year-on-year increase of 5.6%.

Link to http://www.chinatechnews.com/2016/09/01/24142-china-telecom-net-profit-up-6-3-in-h1-2016

China Telecom reports strong growth in profit, 4G subs

VietnamMobile World Live — China Telecom, the country’s third largest mobile player, reported strong increases in profit and revenue for the first half of the year, as its 4G penetration hit 44 per cent. Its net profit for the period expanded 6.3 per cent to CNY11.7 billion ($1.76 billion), while EBITDA was down very slightly (0.4 per cent) to CNY50.6 billion.

Link to http://www.mobileworldlive.com/asia/asia-news/china-telecom-reports-strong-growth-in-profit-4g-subs/

China’s telcos to see data revenue offset decline in voice starting next year

ChinaSCMP — Revenues from data will start to offset the decline in voice for Chinese telecommunications companies from next year following rising consumer demands for data, according to a report by a leading mobile association. For Chinese telecom companies, legacy voice revenues fell 15.4 per cent in 2015 due to the widespread adoption of IP messaging services, according to the Mobile Economy Asia Pacific 2016 report released by the GSM Association (GSMA) at the Mobile World Congress Shanghai on Wednesday.


Alibaba Sees 48-Percent Growth in First Forecast Since IPO

ChinaDatacenter Knowledge — (Bloomberg) — Alibaba Group Holding said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014. The company predicts sales will rise at least 48 percent in the year ending March 2017 as it pushes into new markets and businesses beyond e-commerce.


Tencent’s earnings boosted by online ads, though slowdown creeps in

ChinaNikkei — HONG KONG — Tencent Holdings reported strong first-quarter earnings that beat analyst forecasts as the Chinese tech giant drew in more users and advertisers to its gaming and social media platforms. However, some advertisers are growing cautious in their spending amid the country’s economic slowdown.


Singtel full-year profit grows 2% despite forex hit

SingaporeTelecom Asia — Singtel has reported a 2% increase in net profit for the financial year ending in March to S$3.87 billion ($2.81 billion), despite negative foreign exchange movements. But operating revenue declined 1.5% to S$16.96 billion, the operator revealed. Excluding the impact of forex fluctuations, net profit would have grown 6% and operating revenue would have risen 4%.


IIJ FY profit grows 21.6% on strong MVNO traction

JapanTelecom Asia — Internet Initiative Japan (IIJ) has reported a 21.6% increase in net profit for the financial year ending in March as a result of strong expansion in the MVNO and cloud services sectors. Net income reached 4 billion yen, on the back of a 14.3% increase in revenue to 140.6 billion yen.


Softbank’s annual profit drops 27% on Sprint woes

JapanJapan Today — Japanese Internet company SoftBank Group Corp, which is struggling to turn around Sprint in the U.S., reported Tuesday a 49% plunge in profit for the January-March quarter to 45.2 billion yen ($415 million), compared to the same period the previous year.


Singtel announces SG$3.87b net profit for FY16

SingaporeZDNet — Singtel has reported its financial results for FY16, announcing a net profit of SG$3.87 billion, up 2.4 percent year on year from the SG$3.78 billion recorded at the end of March 2015. The Singaporean telecommunications provider’s earnings before interest, tax, depreciation, and amortisation (EBITDA) were SG$5.01 billion for the year, down 1.5 percent from SG$5.09 billion, on operating revenue of SG$16.96 billion, down 1.5 percent from SG$17.22 billion.


StarHub net profit up by SG$19.1m

SingaporeZDNet — Singaporean telecommunications provider StarHub has announced its financial results for the quarter ending March 31, 2016, reporting net profit of SG$92.8 million, up 25.9 percent from the SG$73.7 million reported for the same period in 2015. Earnings before interest, tax, depreciation, and amortisation (EBITDA) was SG$183.4 million, up 13.2 percent from last year’s SG$162.1 million, while revenue sat at SG$590.9 million, down 4.4 percent year on year from the SG$617.9 million announced in the same quarter for FY15.

Alibaba Rising on FYQ4 Rev Beat; RBC, JP Morgan Hike Targets

ChinaBarrons — Shares of Chinese e-commerce giant Alibaba Group (BABA) are up $3.20, over 4%, at $79.02, after the company this morning reported fiscal Q4 revenue that topped analysts’ expectations, but missed on the bottom line. Revenue in the three months ended in March rose 39% year-over-year to $3.75 billion, or 24.18 billion Renminbi, yielding EPS of 47 cents a share. Analysts had been modeling $3.58 billion and 55 cents a share.


Is Alibaba’s Stock A Buy With Its Treasure Chest Despite ‘400’ Counterfeiters?

ChinaForbes — Alibaba Group’s reported its fiscal fourth quarter earnings results on Thursday that saw the Chinese internet ecommerce giant top sales forecasts, showing year-on-year (y-o-y) revenues up 39%. But with its profits falling short of analysts’ and The Street’s expectations, the question remains is the stock a buy at below the $100 mark and at current levels?


Alibaba sales soar 39%, despite the slowdown

ChinaNikkei — HONG KONG — Alibaba Group Holding seems unhurt by a wider economic slowdown in China as the e-commerce giant reported a 39% rise in its fourth-quarter revenue, boosted by growth in online transactions. Turnover beat analysts’ forecasts to reach 24.2 billion yuan ($3.7 billion) in the three months ended in March, the company said on Thursday. Net profit surged 85% to 5.3 billion yuan on the year, driven by gains from the disposal of investments and businesses.


Revenue soars at China’s Alibaba

ChinaWashington Post — Alibaba Group posted a 39 percent surge in revenue as China’s dominant e-commerce operator shrugged off a slowing economy with promotions to woo cash-rich consumers. Asia’s largest Internet company posted better-than-expected sales of 24.2 billion yuan ($3.7 billion) in the March quarter and said it will start providing annual forecasts.


Idea Cellular reports 39% drop in Q4 profit

IndiaTimes of India — MUMBAI: Idea Cellular, India’s third-largest telecom company, reported a smaller than expected fall in quarterly profit helped by strong voice and data revenue. The company, which has 184 million mobile subscribers, posted a 38.9% fall in profit to 5.76 billion rupees ($86.60 million) in the three months to the end of March, hurt by higher financing and spectrum fees of its 4G network.

China Telecom 1Q16 revenues up 6.1% on year

ChinaDigi Times — China Telecom has reported operating revenues of CNY86.426 billion (US$13.22 billion) growing 6.1% on year for the first quarter of 2016, according to the company. China Telecom recorded first-quarter EBITDA (earnings before interest, tax, depreciation, amortization) of CNY23.811 billion, up 2.9% on year, net operating profit of CNY7.346 billion, down 5.4%, and net profit of CNY5.119 billion, up 1.5%.


Huawei Enterprise Business Group Achieves Strong Growth in 2015 Fuelled by Demand for Leading New ICT

ChinaPRNewswire — SHENZHEN: Huawei Enterprise Business Group (EBG) today shared its 2015 financial results and 2016 vision and strategy under the theme of “Leading New ICT, Building A Better Connected World” at the Huawei Global Analyst Summit (HAS) 2016. Huawei EBG generated CNY 27.6 billion (USD4.25 billion) annual revenue in 2015, an increase of 43.8% year-over-year and the keeps strong growth.


Flipkart, Amazon may fail to meet vendor sales norm this year

IndiaTimes of India — NEW DELHI: Leading ecommerce companies may not be able to comply immediately with the recent stipulation to cap any vendor on their platforms at 25% of total sales. They will only be able to do so after the current financial year ends, said people aware of the matter.


Digi Q1 2016 service revenue was flat, other indicators promising

MalaysiaDigital News Asia — MOBILE services provider Digi.com Bhd recorded service revenue for the first quarter of 2016 of RM1.56 billion, unchanged from the preceding quarter, against challenging and competitive market conditions. Earnings before interest, tax, depreciation and amortisation (EBITDA) strengthened to RM704 million from RM701 million in Q4 2015, or a 43% margin despite aggressive IDD competition and moderated data monetisation opportunities.


China Mobile posts 1Q16 revenues of CNY177.5 billion

ChinaDigi Times — China Mobile has released its unaudited financial report for first-quarter 2016, recording consolidated revenues of CNY177.5 billion (US$27.14 billion), up 8.70% on year, and pre-tax profit of CNY23.9 billion, up 0.42%. China Mobile had 836 million subscribers of mobile communication services as of the end of March 2016, including 377 million 4G users and 153 million 3G (TD-SCDMA) ones.


Microsoft quarterly profit down 25% to US$3.8b

APACChannel News Asia — SAN FRANCISCO: Microsoft on Thursday (Apr 21) reported a 25 per cent plunge in quarterly profits as the company navigated away from its role as a software seller to a services model. Shares in Microsoft, once the world’s largest company, were down 4.3 per cent in after-hours trade following the results, which were weaker than expectations.


Infosys gives 6-12% average salary hike to employees

IndiaTimes of India — BENGALURU: India’s second largest software exporter Infosys, which posted strong results for the fourth straight quarter, has handed out an average wage hikes of about 6-12% for all its offshore employees, while on-site employees have been given average hikes of about 2%.


IBM reports worst revenue in 14 years, shares slide

APACChannel News Asia — REUTERS: International Business Machines Corp reported its worst quarterly revenue in 14 years as results from newer businesses including cloud and mobile computing failed to offset declines in its traditional businesses, sending shares down nearly 5 percent in extended trading.


Keppel DC REIT’s Latest Earnings: What Investors Should Know

SingaporeFool — Keppel DC REIT (SGX: ABJU) released its fiscal first-quarter earnings report yesterday evening. The reporting period was from 1 January 2016 to 31 March 2016. The real estate investment trust (REIT) had its initial public offering (IPO) in 2014, so it can be considered a relatively new kid on the block. Keppel DC REIT currently has nine data center properties spread out across six countries in Asia Pacific and Europe.


Huawei reports 37% revenue growth for 2015

ChinaZDNet — Huawei has reported a 37 percent year-on-year increase in its 2015 revenue to 395 billion yuan (US$60.8 billion) worldwide, with growth fuelled by a robust consumer business and increased demand for ICT. The Chinese hardware manufacturer’s net profit climbed 33 percent year-on-year to reach 36.9 billion yuan (US$5.7 billion), on strong growth across its carrier, enterprise, and consumer business groups, according to its 2015 annual report, which was audited by KPMG.

China Telecom FY15 profit grows 13.4%

ChinaTelecom Asia — China Telecom has reported a sharp increase in its net profit for 2015 thanks to one-off gains from the sale of telecom towers and related assets last year. Profit surged 13.4% year-on-year to 20.05 billion yuan ($3.07 billion) on the back of a one-time gain of 3.94 billion yuan from the transfer of towers and other infrastructure to China Tower, the JV formed by the three telcos last year.


iiNet purchase helps TPG boost 1H16 profit by 90%

AustraliaTelecom Asia — Australian fixed-line operator TPG Telecom has reported a 90% surge in net profit for the half year ended in January, thanks largely to gains associated with its acquisition of rival iiNet. Profit for the period grew to A$202.4 million ($153.2 million). TPG’s bottom line was lifted by a A$73.1 million gain on the group’s previously held stake in iiNet, as well as an A$9.7 million profit from a disposal on part of its stake in fiber network operator Vocus Communications.


Micromax clocked around $2 billion revenue in 2015-16: Rahul Sharma, co-founder

IndiaTimes of India — Coming out from an ‘eventful’ 2015, Micromax has set its sights on being No. 1 in India, where it feels it has what it takes to whether the competition with market leader Samsung. Co-founder Rahul Sharma tells ET, that the company won’t be replacing senior executives who have quit as the founders are well equipped to run operations, which has the backing of its investors.


China Unicom brings in 2015 revenues of over CNY277 billion

ChinaDigi Times — Telecom carrier China Unicom has released its 2015 financial report, recording consolidated revenues of CNY277.049 billion (US$44.09 billion), down 2.7% on year, net profit of CNY10.562 billion, down 12.4%, and net EPS of CNY0.441. The China-based carrier said it plans to distribute a cash dividend per share of CNY0.17 for 2015.