ChinaVirtuoso

Chinese telecom operator China Unicom announced its financial report for the first three quarters of 2014, stating that by September 30 its operating revenue reached CNY215.34 billion, a year-on-year increase of 5.3%; while its net profit reached CNY10.56 billion, a year-on-year increase of 36.1%.

For the mobile sector, China Unicom's revenue during the reporting period was CNY119.1 billion, the number of its mobile users reached 297.07 million, and its average revenue per user was CNY45.5. Meanwhile, its mobile broadband service revenue was CNY80.36 billion, a year-on-year increase of 24.3%, the number of mobile broadband users reached 145.71 million, and the average revenue per user was CNY65.7.

In the fixed-line broadband sector, China Unicom's revenue in the first nine months of 2014 was CNY66.92 billion. Of that, fixed-line broadband service revenue increased by 9.7% year-on-year CNY37.52 billion, accounting for 56.1% of the total fixed-line business service revenue, the number of fixed-line broadband users reached 68.482 million, and the average revenue per user was CNY62.4.

From January to September 2014, China Unicom's costs were CNY201.27 billion, a decrease of 3.7% compared with the same period of last year. For details, the company's asset depreciation and amortization was CNY55.14 billion, a year-on-year increase of 8%; its network, operation, and support costs were CNY27.77 billion, a year-on-year increase of 12.6%; its sales expense was CNY31.79 billion, a year-on-year decrease of 0.3%; and its mobile broadband business interruption subsidies were CNY3.91 billion, a year-on-year decrease of 32.7%.

Due to the change of Chinese inter-network settlement policies, China Unicom's inter-network settlement costs decreased by 26.1% year-on-year to CNY11.12 billion.

China Unicom's pre-tax profit was CNY14.07 billion and its net profit was CNY10.56 billion, representing a year-on-year increase of 36.1%. The company's earnings per share were CNY0.443 and its earnings before interest, tax, depreciation and amortization were CNY72 billion, a year-on-year increase of 12.5%.


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