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ZTE : 3Q Net Profit Plunged 68%

10/28/2020 | 07:04pm

By Yi Wei Wong

ZTE Corp. reported that its third-quarter net profit plunged as investment income fell.

The telecommunication company reported late Wednesday that its third-quarter net profit fell 68% to 854.8 million Chinese yuan ($127 million).

Investment income fell by CNY75.8 million during the third quarter, ZTE said.

Operating revenue gained 37% to CNY26.93 billion in the third quarter, the company said.

Write to Yi Wei Wong at yiwei.wong@wsj.com

(END) Dow Jones Newswires

10-28-20 2003ET

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