Unicom books 80% increase in first quarter profit

24 Apr 2017

China Unicom has reported its financial results for the first quarter of 2017, registering a 1.9% year-on-year decline in total revenue to CNY69.0 billion (USD10.0 billion), as a 2.4% expansion in service revenue failed to offset a decline of CNY2.8 billion in turnover from the sale of telecommunications products. In terms of operating expenses, however, costs related to the sale of telecoms products fell by CNY3.5 billion, making up for small increases in financial costs, depreciation and amortisation, employee benefits and other operating expenses. Consequently, Unicom booked pre-tax profit of CNY1.2 billion, with net profit for the period growing by 80.2% y-o-y to CNY865 million.

At the end of March 2017, Unicom claimed a total of 266.3 million mobile billing subscribers, compared to 263.8 million three months earlier, 122.7 million of which were 4G customers (104.6 million at end-2016). In the fixed market, Unicom counted 76.6 million broadband users, up from 75.2 million in December 2016, whilst fixed telephony subscriptions continued to fall, dropping to 64.9 million from 66.6 million.

China, China Unicom