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ZTE posts profits of $128.2 million in Q1

April 30, 2019

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Chinese vendor ZTE posted a CNY860 million ($128.2 million) profit for the first quarter of the year, compared with a loss of CNY5.4 billion in Q1 2018.

Operating revenue of CNY22.2 billion in Q1 2019 was down 19.3% from CNY27.5 billion in the same quarter the previous year.

For the first half of the year, ZTE said it expects to see a profit in the CNY1.2 billion to CNY1.8 billion range.

For full 2018, the vendor posted a net loss of CNY6.98 billion, which was within the estimated range disclosed in the preliminary announcement of 2018 annual results.

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