Why China Unicom Stock Soared Today

Why China Unicom Stock Soared Today

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. 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). The Chinese telecommunications giant now has 309.5 million mobile subscribers, including 260.7 million 4G subscribers.