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Chinese telecom firm ZTE books 9.3 percent rise in H1 profit on 4G growth

Published 25/08/2016, 10:24
© Reuters. A ZTE smartphone Grand S is displayed during a news conference in Taipei
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HONG KONG (Reuters) - Chinese telecom equipment maker ZTE Corp <000063.SZ> (HK:0763) on Thursday booked a 9.3 percent rise in first-half profit as China's adoption of fourth-generation (4G) mobile technology offset the impact of government restrictions on its U.S. operations.

Net profit reached 1.8 billion yuan ($270.43 million) in January-June, versus 1.6 billion yuan a year earlier, the firm said in a filing at the Shenzhen Stock Exchange.

Revenue rose 4.05 percent to 47.8 billion yuan. That compared with the 49.17 billion yuan average estimate from analysts polled by Thomson Reuters SmartEstimates.

© Reuters. A ZTE smartphone Grand S is displayed during a news conference in Taipei

ZTE earlier this month won a reprieve to restrictions on exports from the United States imposed in March for alleged violations of U.S. sanctions against Iran. [nL3N1B002V]

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