ZTE's Attributable Profit Plunges 88% in Q3; Shenzhen Shares Slide 7%

MT Newswires Live

10/29

ZTE's (SHE:000063, HKG:0763) attributable profit fell 88% year over year to 264.4 million yuan in the third quarter, according to a Wednesday filing with the Shenzhen bourse.

The telecommunications equipment manufacturer logged earnings per share of 0.06 yuan, down 87% from the year-ago period.

Operating revenue grew 5.1% year on year to about 29 billion yuan.

Shares slid 7% in Shenzhen and 5% in Hong Kong during morning trading on Wednesday.

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