China’s ZTE Corp Expects Full-Year Loss

China’s ZTE Corp Expects Full-Year Loss
A delivery man uses a phone near a building of China's ZTE Corp in Beijing, China, August 29, 2018. REUTERS/Thomas Peter
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HONG KONG—Chinese telecoms equipment maker ZTE Corp expects to post a loss of up to 7.2 billion yuan for the full year, despite a third-quarter net profit of 564 million yuan ($81 million) after resuming business in the wake of crippling U.S. sanctions.

Profit in the three months to Sept. 30 was down 65 percent year on year, while revenue dropped by 14.3 percent to 19.33 billion, the company said on Oct. 25.