New Street: Chinese Telcos: Costs rising faster than revenues, CU to Reduce
Q2 results sparked a sharp rally in Chinese telcos, but in this note, we focus on the key metrics and find that China Unicom had a strong quarter (after a very weak Q1), but overall market revenue growth is still below Q4 2019, and opex continues to rise faster than revenues.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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