China Mobile reported first-half 2026 profit attributable to shareholders of 78.9 billion yuan, or about $11.7 billion, down 6.3% from a year earlier, while operating revenue slipped 1.1% to 538 billion yuan, or about $79.9 billion. The company said revenue still achieved positive growth on a like-for-like basis after excluding external factors such as VAT tax category policy adjustments. Core business revenue fell 3.1% to 452.7 billion yuan, while other business revenue rose 11.2% to 85.4 billion yuan. Telecommunications services revenue, still the largest segment, declined 5.7% to 350.42 billion yuan as China Mobile increased data allowances in its plans, helping first-half mobile data traffic rise 16.0% year over year. Computing power services revenue climbed 14.0% to 52.9 billion yuan and intelligent services revenue rose 0.9% to 49.34 billion yuan, with the two businesses together accounting for 22.6% of core business revenue, up 2.2 percentage points from a year earlier. Growth in newer businesses was led by AIDC revenue, which surged 486.1% year over year. Data center revenue rose 13.2% to 19 billion yuan, intelligent computing services revenue jumped 130.1% to 5.3 billion yuan, and Mobile Cloud's public cloud revenue entered the top three in China's domestic market for the first time. China Mobile said contracted AIDC capacity reached 7GW, including 5GW newly contracted in the first half. The company continued to add users, with mobile customers reaching 1.011 billion by the end of June, 5G network customers at 687 million, broadband customers at 337 million and IoT connections at 1.511 billion. Capital expenditure rose 4.5% to 61 billion yuan, with spending on telecommunications networks down 9.8% but investment in computing power networks and intelligent networks up 71.3% and 85.2%, respectively. Net operating cash inflow increased 37.0% to 114.9 billion yuan and free cash flow jumped 111.6% to 53.9 billion yuan. International revenue rose 30.1% to 18.2 billion yuan as China Mobile expanded overseas infrastructure and enterprise services. The company said it is advancing a token-based operating strategy for the AI era as it seeks to evolve from a telecommunications operator into a technology services enterprise built around telecommunications, computing power and intelligent networks.