ZTE Corporation’s nine-month net income soars

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Telecom equipment and networking gear provider ZTE Corp has reported a more than 100 percent jump in nine-month financial results to the end of September.

In a preliminary filing to the Hong Kong Stock Exchange, ZTE disclosed net profit of between 5.6 billion yuan and 6 billion yuan (between $871.2 million and $933.4 million), from 2.71 billion yuan the year before, an increase of between 106.49 percent and 121.23 percent, from January to September 30.

The results are not audited.

The stock had earlier been rated a ‘buy’ at No 2, in a ranking by Zacks Investment Research, which expected earnings to surge by “more than 100 percent’’ for the current financial year.


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