- China Unicom (NYSE:CHU) is up 2.3% in U.S. trading despite noting preliminary profits that are set to slide for the first nine months of the year as it invested to keep up with market leader China Mobile (NYSE:CHL).
- A turnaround may be in the offing, though, as the company's heavy network investments in 4G begin to pay off with subscriber additions.
- Preliminary net income tumbled to about 1.59B yuan (about $236M), vs. 8.18B yuan ($1.21B) in the prior year's first nine months.
- In just September, though, the company expects record net additions of 6.05M 4G subscribers, well up from August's 5M. Overall, it added about 9.76M wireless subs, bringing its total to 262M.
- Full earnings are set to come on Thursday.