Huawei reported revenue of CNY671.3 billion (approximately US$100.42 billion) for the first three quarters of 2020, an increase of 9.9% over the same period last year. The company said it achieved a net profit margin in this period was 8.0%, in line with its expectations.
Huawei also said its global supply chain is being put “under intense pressure and its production and operations face significant challenges” due to COVID-19.
Huawei reports a 13% increase in 1H sales to US$64.9 biliion
The company issued the following statement: “As countries around the globe are grappling with the COVID-19 pandemic, information and communications technologies (ICT) have become not only a crucial tool for combatting the virus, but also an engine for economic recovery. Huawei reiterated its commitment to working with carriers and industry partners to maintain stable network operations, accelerate digital transformation, and support efforts to contain local outbreaks and reopen local economies.”
Huawei reported overall revenue of CNY454 billion (approx. US$64.9 billion) in revenue for the first half of 2020, a 13.1% increase year-on-year, with a net profit margin of 9.2%.
Huawei’s carrier, enterprise, and consumer businesses achieved CNY159.6 billion, CNY36.3 billion, and CNY255.8 billion in revenue, respectively. “The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces.”
