EASTMONEY(SZ:300059) 智通财经网·2025-11-21 08:58Core Insights - The communication industry is experiencing a sustained growth trend in overall performance, with profitability steadily improving before the third quarter of 2025 [1][2] - The North American AI sector has significantly outperformed the market, leading the growth among various segments [1] Industry Performance - The total revenue of the communication industry reached 19,549 billion yuan in the first three quarters of 2025, reflecting a year-on-year increase of 3.3%, while the net profit attributable to shareholders was 1,943 billion yuan, up 9.0% year-on-year [2] - In Q3 2025, the industry revenue was 6,313 billion yuan, with a year-on-year growth of 3.7%, and the net profit attributable to shareholders was 567 billion yuan, increasing by 12.1% year-on-year [2] Segment Analysis - Operators showed stable growth with revenue growth of 0.6% and 1.1% year-on-year, and net profit growth of 4.3% and 2.1% respectively, indicating a steady improvement in profit margins [3] - The North American AI sector exhibited remarkable growth, with revenue increasing by 71.5% and 71.1% year-on-year, and net profit soaring by 129.5% and 137.3% [3] - The domestic computing sector reported revenue growth of 22.0% and 3.2%, with net profit growth of 38.8% and 60.6%, highlighting significant performance disparities across the industry chain [3] - The Internet of Things (IoT) sector achieved revenue growth of 15.9% and 9.7%, with net profit growth of 37.5% and 26.7%, indicating steady performance [3] - The BeiDou sector saw revenue growth of 36.0% and 58.5%, with net profit growth of 74.8% and 149.9%, with some companies turning losses into profits [3] - The military communication sector faced challenges, with revenue declining by 5.7% and increasing by only 1.1%, and net profit dropping significantly by 76.9% and 51.0% [3] - The submarine cable sector reported revenue growth of 12.0% and 9.8%, with net profit remaining relatively stable [3]