Shares of China United Network Communications (China Unicom) climbed 5.1% on Wednesday, buoyed by the company's strong financial performance in the third quarter.
China Unicom reported a 7.7% year-over-year increase in attributable profit to 2.3 billion yuan ($323 million) for the three months ended September 30. The telecommunications giant's earnings per share rose 8.8% to 0.074 yuan, while operating income grew 3.3% to 92.8 billion yuan.
The robust Q3 results, driven by steady revenue growth and cost controls, boosted investor sentiment in China Unicom, sending its shares up more than 1% in morning trading on the Shanghai Stock Exchange.
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