SEHK:762Telecom
China Unicom (SEHK:762) Stock Can Revenue Stability Outlast Profit Erosion
China Unicom (Hong Kong) closed at HK$5.495 after a tough run, with the stock down about 13% over the past week and almost 30% over three months. The market reaction has been cool, and the latest Q2 numbers indicate that the real story is pressure on profits rather than a collapse in the top line.
Net income from ongoing operations over the last twelve months sits at C¥15,800m on revenue of about C¥393.4b, which leaves a modest 4% net margin. The key question now is how much that thinner...