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ZTE’s revenues up in Jan-Sep as vendor secures 55 5G contracts

October 29, 2020

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ZTE posted operating revenues of CNY 74.13 billion ($11 billion) in the first three quarters of the year, an increase of 15.4% compared to the year-ago period, the Chinese vendor said in a statement.

During the period, net profits amounted to CNY 2.71 billion, while net profit after extraordinary items attributable to holders of ordinary shares of the listed company amounted to CNY1.45 billion.

For the third quarter of the year, ZTE’s operating revenue reached CNY 26.93 billion, representing a year-on-year increase of 37.2%.

ZTE also reported that its Q3 net profit fell 68% to CNY 854.8 million.

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