China Unicom First-Quarter Profit Trails Estimates on 3G
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China Unicom Hong Kong Ltd., the nation’s second-largest mobile phone company, posted first-quarter profit that missed analysts’ estimates on weaker than expected subscriber additions to its high-speed service.
Net income rose to 1 billion yuan ($159 million), from a restated 145 million yuan a year earlier, the Beijing-based company said in a statement yesterday. That compared with the 1.1 billion yuan median of six analysts’ estimates in a Bloomberg News survey.