Huawei reported Q1 2022 revenue of CNY131 billion in revenue (approx US$19.80 billion), with a net profit margin of 4.3%.
“In Q1, our overall business results were in line with forecasts. Our consumer business was heavily impacted, and our ICT infrastructure business experienced steady growth,” said Ken Hu, Huawei’s Rotating Chairman. “We have yet again increased our investment in R&D to harness the momentum of our innovation and create new value for customers.”
“As always, we want to thank our customers and partners for their ongoing trust and support,” Hu added. “In 2022, we still face a challenging and complicated business environment. Despite considerable operational challenges, we will work more closely with our customers and partners around the world to overcome adversity.”
Huawei’s Q1 revenue drops 16.5% year-on-year
Huawei reported Q1 2021 revenue of CNY152.2 billion (US$23.17 billio) in revenue, a 16.5% decrease year-on-year. The company said its network business maintained steady growth, while its consumer business revenue declined, in part as a result of selling the Honor smart device brand in November 2020. Huawei’s net profit margin was up 3.8 percentage points year-on-year at 11.1% – the result of the company’s ongoing efforts to improve quality of…
