Huawei posts 10 percent revenue growth in first nine months

2020-10-26 Zhu Shenshen

Huawei Technologies posted revenue growth of 10 percent in the first nine months despite facing strict sanctions abroad, the tech giant said on Friday.

Huawei generated 671.3 billion yuan (US$100 billion) in revenue in the three quarters, an increase of 9.9 percent over the same period last year. The company’s net profit margin during the period was 8 percent. These results “basically met expectations,” Huawei said in a statement.

“Huawei will leverage its strengths in ICT technologies such as AI, cloud, 5G and computing to provide scenario-based solutions, develop industry applications and unleash the value of 5G networks,” the company said.