China Unicom Expects First Three Quarters Net Profit CNY4.1 Billion

By Chester YungFeaturesDow Jones Newswires

China Unicom (Hong Kong) Ltd. (0762.HK) said late Thursday it expects its net profit for the first three quarters of about 4.1 billion yuan (US$618 million).

The Chinese state-owned telecommunications operator said the expected increase from a year earlier is due to robust service revenue growth and lower selling and marketing expenses and handset subsidies.

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Looking ahead, the firm expects its financial performance will face increasing pressure in the fourth quarter amid intensifying market expectations. The company stopped charging mobile domestic long-distance and roaming fees in September.

The financial results for the first three quarters will be released on Oct. 27, it said.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

October 19, 2017 21:47 ET (01:47 GMT)