China Telecom Reports 8% Rise In First-Half Net Profit

China Telecom Corp Ltd CHA reported an 8% rise in its first-half net profit. China Telecom's net profit for the period rose to CNY9.81 billion, from CNY9.08 billion, in the year-ago period. However, analysts were expecting a net profit of CNY9.70 billion. China Telecom's revenue climbed 11% to CNY120.21 billion from CNY107.82 billion, versus analysts' estimates of CNY118.35 billion. China Telecom shares fell 1.71% to close at $56.37 yesterday.