China Mobile earnings: October 21, 2026

China Mobile's next results are expected on October 21, 2026. The key watch is whether computing growth is turning into collections.

What has China Mobile guided for 2026?

Management set 2026 capital expenditure at RMB136,600 million, a year-on-year decrease of 9.5%. Capital expenditure pays for assets that serve customers for years, such as radio equipment, fibre, servers and data centres. The budget is one pool, however. China Mobile can reduce spending on mature networks while adding servers and AI facilities. It is like a city building fewer roads while expanding warehouses: total construction falls, but one kind of capacity grows.

Computing networks received RMB15.6 billion in the plan, while conventional communications-network spending declined. Management also targets 10 million additional mobile customers and 18 million additional integrated broadband customers. It wants more than 48,000 PFLOPS of additional intelligent-computing capacity, a measure of processing speed for demanding workloads.

Has China Mobile kept its dividend promise?

China Mobile has delivered clearer evidence of alignment through dividends than through the public design of senior executive pay.

Dividends provide a more visible promise. China Mobile reported a payout ratio of 75% for 2025 and a full-year dividend of HK$5.27 per share. A payout ratio measures the share of profit distributed to shareholders.

What do China Mobile's last eight reported periods show?

June-quarter revenue was RMB271,557 million, down 3.0% from a year earlier. Operating income fell 14.7% to RMB49,282 million, and attributable profit declined 7.5% to RMB49,592 million. Operating margin fell from about 20.6% to 18.1%, showing how a network’s costs do not fall automatically when revenue does.