🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Shares of ZTE jump more than 5 percent after strong H1 earnings

Published 21/08/2014, 03:02
Shares of ZTE jump more than 5 percent after strong H1 earnings

HONG KONG (Reuters) - Shares of Chinese telecom equipment maker ZTE Corp jumped more than 5 percent on Thursday morning after the company posted a record first-half net profit thanks to improving margins and revenue from new contracts to build China's next-generation telecom network.

The Shenzhen-based company's first-half net profit rose 263 percent year-on-year to 1.13 billion yuan (111 million), up from 310 million yuan a year earlier.

Shares in the company rose as much as 5 percent on Thursday morning, outperforming a 0.2 percent fall in the benchmark Hang Seng Index.

(Reporting By Yimou Lee; Editing by Anne Marie Roantree)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.