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China Unicom Estimates Net Profit of First 3 Quarters in 2016 Will Decrease 81.8%

Updated:2016/10/20 15:43

China Unicom has posted a net profit of about CNY 490 million for the first 3 quarters this year, declining 81.8% compared with the same period last year, which is CNY 2.69 billion.

Due to the increase of sales expense and network operation and support cost resulting from higher tower usage fee and cost investment of energy and rent, China Unicom's net profit declines obviously. However, its net loss has reduced, compared with 2H15.

The mobile services have achieved initial success in rescuing China Unicom's business. In the first 3 quarters of 2016, China Unicom is estimated to add 9.76 million mobile subscribers with expenditure which reaches 262 million, reversing the momentum of decline in consecutive months. Its 4G subscribers are expected to increase 44.75 million to 88.9 million.

 Source:C114
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