China Unicom Reports Encouraging Second-Half Results but Work Ahead to Turn the Ship Around
China Unicom reported 2016 services revenue up 2.4% but EBITDA declined by 9.1%. However, the business does appear to be turning around with second-half services revenue up 3.5% and EBITDA up 3.5% compared with first-half 2016 services revenue up 1.4% and EBITDA down 18%. Fourth-quarter services revenue was up 4.4% with EBITDA up 34%. On the back of this result, we roll forward our forecasts but make slight reductions to our near-term EBITDA forecasts, offset by lower capital expenditure forecas...China Unicom (Hong Kong) is an investment holding company. Through its subsidiaries, Co. is a telecommunications operator in China. Co. is engaged in providing mobile voice, fixed-line voice, fixed-line broadband, data communications and other telecommunications services to its customers.Co. is engaged in the provision of cellular and fixed-line voice and related value-added services, broadband and other Internet-related services, information communications technology services, and business and data communications services. The GSM cellular voice, WCDMA cellular voice, TD-LTE cellular voice, LTE FDD cellular voice and related value-added services are referred to as the .mobile business.
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