ZTE's Q3 data below forecasts
By Zhu Shenshen |
October 29, 2010, Friday
|
Print Edition
Print Edition
ZTE Corp, China's biggest public telecommunications equipment maker, yesterday posted third quarter results that were below analysts' estimates because telcos trimmed spending on networks while it faced political hurdles in India and Europe.
ZTE's net profit rose an annual 18 percent to 483.9 million yuan (US$72.4 million) from July to September, or 0.17 yuan a share, lagging a Bloomberg forecast of 525 million yuan.
Its revenue edged up slightly to 15.3 billion yuan from 15.1 billion yuan but it was still below analysts' estimate of 17.4 billion yuan.
ZTE said telcos were cautious in their investments while policy changes in India and Europe also affected business.
The Shenzhen-based firm unveiled early this week a plan to buy US$3 billion worth of chips from Texas Instruments and Qualcomm over the next three years.
ZTE's net profit rose an annual 18 percent to 483.9 million yuan (US$72.4 million) from July to September, or 0.17 yuan a share, lagging a Bloomberg forecast of 525 million yuan.
Its revenue edged up slightly to 15.3 billion yuan from 15.1 billion yuan but it was still below analysts' estimate of 17.4 billion yuan.
ZTE said telcos were cautious in their investments while policy changes in India and Europe also affected business.
The Shenzhen-based firm unveiled early this week a plan to buy US$3 billion worth of chips from Texas Instruments and Qualcomm over the next three years.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
