China Unicom First-Quarter Net Profit Up 79% to CNY862 Million

By Joanne Chiu Features Dow Jones Newswires

China Unicom (Hong Kong) Ltd. (0762.HK) on Friday reported a 79% rise in net profit for the first quarter.

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The Chinese mobile operator's net profit for the period was 862 million yuan ($125.2 million), compared with net profit of CNY480 million a year ago. It posted a net loss of CNY963 million in the fourth quarter.

Its revenue fell 1.9% to CNY69.01 billion from CNY70.34 billion the previous year.

The operator added a net 18.18 million 4G subscribers in the quarter, bringing its total mobile subscribers to 266.27 million in March.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

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April 21, 2017 05:24 ET (09:24 GMT)