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China Unicom Q4 profit growth flat, misses estimates
February 27, 2014 / 8:56 AM / in 4 years

China Unicom Q4 profit growth flat, misses estimates

BEIJING, Feb 27 (Reuters) - China Unicom (Hong Kong) Ltd , the country’s second-biggest mobile carrier by subscribers, posted on Thursday flat net profit growth in the fourth quarter, well below analysts estimates.

China Unicom said net profit was 2.04 billion yuan ($333.07 million), a 0.6 percent increase from 2.023 billion yuan in the same year-ago period, according to calculations by Reuters based on its annual 2013 results.

The profit compares with the 2.43 billion yuan forecast, based on Reuters calculations from a Thomson Reuters SmartEstimate poll of 32 analysts.

Full year 2013 operating revenues were 295.04 billion yuan versus 248.93 billion yuan last year, an increase of 18.5 percent.

The results were released after the market closed. China Unicom shares ended barely changed compared with a 1.7 percent rise in the benchmark Hang Seng Index. ($1 = 6.1248 Chinese yuan) (Reporting by Paul Carsten; Editing by Miral Fahmy)

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