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Why China Unicom Stock Soared Today

TheMotleyFool

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Shares of China Unicom (NYSE: CHU) have soared today, up by 19% as of 12:15 p.m. EDT, after the company reported financial results for the first half of 2020. Its performance was mixed relative to analyst expectations.

Revenue in the first half came in at 150.4 billion yuan ($21.7 billion), which was shy of the consensus estimate of 146.8 billion yuan ($21.1 billion). That translated into earnings per share of 0.25 yuan ($0.04), which topped analysts' forecast of 0.22 yuan ($0.03) per share. The Chinese telecommunications giant now has 309.5 million mobile subscribers, including 260.7 million 4G subscribers.

Image source: Getty Images.

Source Fool.com

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