Wed, Mar. 18, 6:18 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)
Oct. 28, 2013, 4:12 AM| Comment!
Aug. 21, 2013, 11:23 AM
- China Telecom's (CHA) revenue in 1H 2013 grew 14.1% Y/Y to RMB157.5B. Mobile revenues climbed 34.7% to RMB72.9B (data revenue led the way, up 35.8%). Wireline revenues were up 0.9% to RMB84.6B.
- Mobile subscriptions climbed 21% Y/Y in H1 to 174.5M. ARPU grew 3.6% to RMB54.3. 18.3M (60.4%) of new subscriptions were on the 3G network.
- EBITDA grew 35.5% to RMB50.1B. EBITDA margin was 36% (up from 26.8% in H1 2012).
- Long-term debt shrank slightly to RMB82.6B.
- FCF grew 61.9% to RMB13.8B. Net profit was up 15.9% to RMB10.2B.
- (1H report), (presentation)
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.
Mar. 20, 2013, 2:59 AMChina Telecom (CHA): Q4 net profit -17% to 2.36B yuan ($380M) vs consensus of 2.04B yuan. Revenues +17% to 73.1B yuan vs 73.2B yuan, with wireless data sales boosted by iPhone use. ARPU 53.9 yuan, stronger than expected. Mobile subscribers +8M to 160.6M. To boost capex 40% this year to 75B yuan. (PR) | Comment!
Oct. 29, 2012, 8:17 AM
Aug. 22, 2012, 3:10 AMChina Telecom (CHA): H1 net profit -8.3% to 8.81B yuan ($1.39B) vs. consensus of 7.72B yuan. Revenue +14.8% to 138.02B vs. 134.66B yuan. 3G users +40% from end of 2011, faster than rivals. iPhone marketing expenses to weigh on profitability. To acquire CDMA assets from parent company for 84.6B yuan, lower than expected. Not offering dividend for H1. (PR) | 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) | Comment!
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) | Comment!
CHA vs. ETF Alternatives
China Telecom Corp Ltd along with its subsidiaries is an integrated information service company. It offers telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services.
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