China Unicom's H1 earnings up 32% on more 3G users
By Zhu Shenshen |
August 24, 2012, Friday
|
Print Edition
Print Edition
CHINA Unicom rang up an annual 32 percent jump in net profit in the first half as it got more 3G users by offering improved mobile data services.
In the first six months, China's No. 2 telco, earned 3.42 billion yuan (US$542.8 million), above the 3.3 billion-yuan forecast of six analysts surveyed by Reuters.
Its revenue grew 20 percent annually to 121.7 billion yuan, China Unicom said yesterday.
Contrary to market concerns of rising competition, Morgan Stanley is confident of "China Unicom's accelerating growth and improving margins in coming quarters."
The telco's rivals China Mobile posted flat second-quarter net profit of 34.4 billion yuan while China Telecom's fell 10 percent annually.
China Unicom, which is also the carrier partner for Apple's iPhone, added 3.4 million mobile subscribers in July, bringing the total number to 222.66 million users.
Its 3G user base hit 60.6 million by July, giving it a high ARPU (average revenue per user).
In the first six months, China's No. 2 telco, earned 3.42 billion yuan (US$542.8 million), above the 3.3 billion-yuan forecast of six analysts surveyed by Reuters.
Its revenue grew 20 percent annually to 121.7 billion yuan, China Unicom said yesterday.
Contrary to market concerns of rising competition, Morgan Stanley is confident of "China Unicom's accelerating growth and improving margins in coming quarters."
The telco's rivals China Mobile posted flat second-quarter net profit of 34.4 billion yuan while China Telecom's fell 10 percent annually.
China Unicom, which is also the carrier partner for Apple's iPhone, added 3.4 million mobile subscribers in July, bringing the total number to 222.66 million users.
Its 3G user base hit 60.6 million by July, giving it a high ARPU (average revenue per user).
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