Unicom records 24.8% increase in Q1 revenues

26 Apr 2012

China Unicom, China’s second largest provider of wireless and broadband services by subscribers, has reported revenues of CNY61.193 billion (USD9.683 billion) for the quarter ended 31 March 2012, an increase of 24.8% compared to the same period a year earlier. Net profit for the period was CNY1.007 billion, up from CNY145 million a year earlier. Unicom’s mobile business was the driving force behind the growth, wireless revenues increasing by 42.3% year-on-year to CNY40.5 billion. 3G service revenue rose to CNY12.53 billion, making up 42.8% of all wireless service revenues for the period under review, compared to 24.4% a year earlier. The cellco added 8.841 million 3G subscribers in the quarter, bringing its total to 48.86 million. Unicom’s GSM business meanwhile saw revenues drop by 5.0% y-o-y to CNY16.73 billion, despite net customer additions of 986,000. The fixed segment was a similarly mixed bag as broadband revenues grew by 13.6% y-o-y to CNY9.6 billion, but revenue from fixed telephony dropped by 14.7% to CNY7.57 billion.

China, China Unicom