|End-of-day quote - 07/30|
China Unicom Hong Kong : Nine-Month Net Profit Rose 10%
|10/21/2020 | 05:21am|
By Yi Wei Wong
Telecommunications operator China Unicom reported that net profit rose for the January-September period from a year earlier, driven by higher demand for fixed-line broadband services.
Net profit rose 10% to 10.82 billion Chinese yuan ($1.62 billion). Revenue grew 3.8% to CNY225.35 billion.
The telco said its mobile business improved modestly in the face of challenges such as keen market competition amid the coronavirus pandemic.
China Unicom added that the pandemic had prompted rising demand for broadband network deployment and speed updates, with fixed-line broadband access revenue up 3.7% for the first nine months of the year.
Write to Yi Wei Wong at email@example.com
(END) Dow Jones Newswires