China Unicom (NYSE:CHU), China’s second largest mobile operator, announced fiscal 2011 results with earnings per share of RMB 0.18 ($0.28 per share). The annual earnings missed the Zacks Consensus Estimate by 9 cents but was 2 cents above the year-ago earnings.
Adjusted net income increased 20% year over year to RMB 4.21 billion ($0.65 billion). High costs associated with 3G service deployments and network expansion were compensated by strong revenues.
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