China United Network Communications First Quarter 2024 Earnings: Misses Expectations

China United Network Communications (SHSE:600050) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥99.5b (up 2.3% from 1Q 2023).
• Net income: CN¥2.45b (up 8.0% from 1Q 2023).
• Profit margin: 2.5% (up from 2.3% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥0.078 (up from CN¥0.071 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

China United Network Communications Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 2.5%.

Looking ahead, revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Wireless Telecom industry in Asia.

Performance of the market in China.

The company's shares are up 7.1% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for China United Network Communications that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.