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General

ZTE revises Q1 net loss to CNY 5.4 bln after US ban

Monday 30 July 2018 | 10:24 CET | News
ZTE has updated its results for the first quarter, saying it is now reporting a net loss of CNY 5.4 billion, against a profit the year before of 1.2 billion. The revised results take into account the impact of the US supplier ban, which was lifted after the company paid USD 1.4 billion in penalties. The company had earlier said it expected a net loss of CNY 7-9 billion for the first half, from a profit of 2.29 billion, a decline of 405-492 percent.

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Categories: General
Companies: ZTE
Countries: China / World
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