Fri, Oct. 23, 1:12 PM
- China Unicom (NYSE:CHU) is another 1.2% lower in U.S. trading today after a Deutsche Bank downgrade following earnings where it lost subscribers and revenues and profits fell.
- The firm cut China Unicom to Hold and reduced its price target to 11 Hong Kong dollars. Shares closed in Hong Kong down 1.2% to HK$9.84.
- For the nine months, earnings dropped 22.6% on total service revenue that was down 3.8%; part of that fall was mobile service revenue that had dropped 8%.
- While the 2Q mobile ARPU showed an improving trend, this did not continue into 3Q which saw ARPU decline 1% Q/Q," the analysts said. "ARPU improvement has been elusive for CU due to its slower 4G ramp up vs. the peers and the flight to quality that seems to have occurred for users. Looking forward opex will rise, so lifting ARPU is the key.
Thu, Oct. 22, 9:55 AM
- China Unicom (NYSE:CHU) is off 2.4% as it continued to see mobile subscribers fall off, and revenues declined, leading to a 22.6% drop in profits.
- For the nine months ended in September, mobile service revenues of 109.5B yuan were down 8%, while fixed service revenue picked up 3.4% to 69.2B yuan; overall, total service revenue was down 3.8%.
- EBITDA still gained on reduced costs, to 74.2B yuan from 74B yuan.
- Mobile subscribers came to 287.6M, a net loss of 287,000 subs; of those, 172.5M were mobile broadband subscribers, up 4.8M. Fixed-line broadband subs came to 71.7M, a net gain of 158,000; local access subs of 76.5M were down 925,000.
Fri, Aug. 21, 11:48 AM
Tue, Mar. 3, 1:45 PM
- China Unicom (NYSE:CHU) is down 5.5% as it posted Q4 income that fell 26% and missed expectations, pointing to VAT reform and playing from behind on high-speed data as headwinds.
- Q4 revenue of 69.3B yuan (down 7%) beat expectations by 2.1B yuan. EBITDA of 20.77B yuan missed expectations by 1B yuan.
- For the full year, net profit was up 15.8% to 12.06B yuan. Net profit was 4.9% of service revenue, up from 4.4% in 2013. Full-year revenue of 244.88B yuan was up 2.6%.
- Full-year revenue breakouts: Mobile, 155.1B yuan (up 2.6%); fixed-line, 88.5B yuan (up 2.3%).
- The company warned that a slowdown in user growth may persist through 2015 or even reverse into a decline, and Chairman Lu Yimin again batted down speculation about a merger with China Telecom (NYSE:CHA) to keep up with clear market leader China Mobile (NYSE:CHL).
- China Unicom has been running behind on 4G implementation, having just received its 4G LTE FDD license and playing catch-up with China Mobile (CHL), which features 100M users.
- Previously: Merger rumors lift U.S. shares of Chinese telecoms (Feb. 12 2015)
- Previously: Chinese telecoms jump in Hong Kong on merger rumor (Feb. 11 2015)
Aug. 7, 2014, 10:57 AM
Aug. 8, 2013, 2:58 PM
- China Unicom (CHU +6.5%), China's second-largest mobile carrier, is trading up after releasing H1 results.
- The carrier's H1 numbers impressed, with revenue of 144.31B yuan up 19% Y/Y and earnings of 5.32B yuan (3.43B yuan a year ago) surpassing a consensus of 4.89B yuan.
- Profitability continues to rise as the first carrier to adopt the iPhone in China reaps the rewards of out-sized subscription and data revenue growth.
- 3G ARPU fell to 77.6 yuan (from 91.8 yuan a year ago), as CHU reeled in less wealthy 3G subs via low-cost smartphones.
- Shares were temporarily halted in afternoon Hong Kong trading after results were accidentally pre-released on a government website.
- Rivals China Mobile (CHL +1.5%) and China Telecom (CHA +2.1%) are up in sympathy.
Apr. 25, 2013, 5:57 AM
Mar. 22, 2013, 3:00 AMChina Unicom Hong Kong (CHU): Q4 net profit jumps to 1.64B yuan ($264M) from 14M yuan a year earlier and beats consensus of 1.41B yuan. Revenue +20% to 63.7B yuan vs estimates of 65.5B yuan. Had 76.5M 3G subscribers at the end of December and total mobile customers of 239.3M. Shares +4.6% in Hong Kong. (PR) | Mar. 22, 2013, 3:00 AM | Comment!
Aug. 23, 2012, 10:36 AMChina Unicom (CHU +7.1%) jumps after reporting a Q2 net profit of CNY2.42B ($381M), slightly better than analyst estimates. China's #2 carrier also reported 1H mobile service revenue rose 23.4% Y/Y, and that it ended June with 219.2M total subscribers and 57.5M 3G subscribers. ARPU rose 2.8% Y/Y to CNY48.1 ($7.57). (CHA results) | Aug. 23, 2012, 10:36 AM | Comment!
Jun. 20, 2012, 3:55 AMChina Unicom (CHU) -3.7% in Hong Kong trading after announcing it added a net 2.73M 3G subscribers in May, a 6.6% decrease in subscriber growth from April. Analysts attributed the results to weaker consumer spending. The news prompted BofA to cut the company’s 2012 net income forecast by 18%. | Jun. 20, 2012, 3:55 AM | 1 Comment
Mar. 22, 2012, 2:15 PMChina Unicom (CHU -2.6%) heads lower after reporting a 2011 profit that missed expectations, as 3G and broadband subscriber growth fails to offset declining 2G subs and growing handset subsidy costs. Unicom, which plans to spend CNY100B ($15.9B) in 2012 capex, now also has to contend with a loss of Chinese iPhone exclusivity, as rival China Telecom (CHA) begins selling the 4S. (earlier) | Mar. 22, 2012, 2:15 PM | Comment!
Oct. 27, 2011, 10:56 AM
Aug. 24, 2011, 5:57 AMChina Unicom (CHU): H1 net profit of 2.65B yuan ($415M), more than double consensus of 1.28B. Revenue of 101B (+23% Y/Y) beats by 2B. ARPU rose 9% to 46.8 yen on 3G growth; CHU - the only China operator to offer the iPhone (AAPL) - added 9.9M 3G users in H1 to 25.8M, vs. CHL's 37.6M and CHA's 23.6M. (PR) | Aug. 24, 2011, 5:57 AM | Comment!
China Unicom (Hong Kong) Ltd though its subsidiaries, provides cellular and fixed-line voice and related value-added services, broadband and other Internet-related services, ICT services, and business and data communications services in the PRC.
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