China Unicom Q1 profit dips 18 percent

China Unicom (0762) posted a 17.6 percent drop in first quarter profit to 4.89 billion yuan (HK$5.62 billion).

Operating revenue inched down to 102.8 billion yuan, of which, service revenue dipped nearly 1 percent to 90 billion yuan while telecommunications product sales grew 2.3 percent to 12.77 billion yuan. 

Revenue from the computing power business was 15.4 billion yuan , up by 8.3 percent year-on-year. Within that, data center revenue increased by 11.7 percent.

The telecom giant recorded a net addition of mobile and broadband subscribers of 3.58 million in the quarter, with the integrated subscriber average revenue per user remaining at above 100 yuan, it said.