Unicom profit growth hits 21% for Q1 2021

22 Apr 2021

Full-service provider China Unicom has booked total revenue of CNY82.3 billion (USD12.7 billion) for the three months to 31 March 2021, up from CNY73.8 billion in the same period of last year. EBITDA for the quarter grew by just 0.3% year-on-year, however, whilst net profit grew by 21.4% over the same period. China Unicom notes, though, that in the year-ago period it had recorded a 13.9% fall in net profit due primarily to the impact of the COVID-19 pandemic.

Unicom counted a total of 309.29 million mobile subscribers as at 31 March 2021, up from 305.81 million at the end of December 2020. Of that total, 91.85 million were ‘5G Package Subscribers’, compared to 70.83 million three months earlier. The number of fixed broadband lines, meanwhile, rose to 88.13 million from 86.10 million in the preceding quarter.

China, China Unicom