Huawei reports its revenue inched higher in January-September despite US sanctions
Chinese telecoms equipment maker Huawei Technologies has reported its profit inched higher in the first three quarters of this year despite persisting U.S. sanctions that have hindered both its sales and its purchases of advanced technology
HONG KONG (AP) — Chinese telecoms equipment maker Huawei Technologies said its revenue edged higher in the first three quarters of the year, even as it grappled with U.S. sanctions that have hindered both its sales and its purchases of advanced technology.
The Shenzhen-headquartered firm said Friday that it generated 456.6 billion yuan ($86.3 billion) in revenue for the first nine months of the year, an increase of 2.4% compared to the same period last year.
Huawei, the biggest maker of network gear for phone and internet carriers, said its net profit margin was 16%, but it gave no basis for comparison.
Ken Hu, Huawei’s rotating chairman said that the figures were “in line with forecasts.” He thanked Huawei’s customers and partners for their trust and support.
