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

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