Thursday, April 10, 2014

ZTE Sees Larger Q1 Profit

ZTE expects its profit for 1Q2014 will at least double from the same period last year, reflecting the strengthening of core operations.  The company's newly issued guidance calls for net profit attributable to shareholders to be between RMB 425 million and RMB 637 million in the first quarter, a year-on-year increase of between 107.3% to 210.7%, according to ZTE’s preliminary results announcement filed to the Hong Kong stock exchange today. Basic earnings per share will be between RMB 0.12 and 0.19, compared to RMB 0.06 a year earlier, based on pre-audited financial data.

The company did not disclose its overall revenue or revenue trend.