China’s ZTE Corp posts $81 million third-quarter profit

Technology

HONG KONG (Reuters) – Chinese telecoms equipment maker ZTE Corp (000063.SZ)(0763.HK) posted third-quarter net profit of 564 million yuan ($81.22 million) on Thursday, down 65 percent year on year after resuming business in the wake of crippling U.S. sanctions.

A delivery man uses a phone near a building of China’s ZTE Corp in Beijing, China, August 29, 2018. REUTERS/Thomas Peter

Revenue in the three months to Sept. 30 dropped by 14.3 percent year on year to 19.33 billion yuan.

($1 = 6.9440 Chinese yuan renminbi)

Reporting by Sijia Jiang; Editing by David Goodman

Products You May Like

Articles You May Like

Earth’s earliest mobile organisms lived 2.1 billion years ago
Senator Warren launches 2020 campaign, sounds note of economic equality
Kejelcha narrowly misses world indoor mile record
Senators vow urgent reform to correct ‘unacceptable’ military housing conditions
How Amazon scrapped its plans for a New York headquarters

Leave a Reply

Your email address will not be published. Required fields are marked *