SHANGHAI :
Huawei Shrugs Off US Woes by Boosting This Year's Revenue
Tang Shihua
DATE:  Oct 16 2019
/ SOURCE:  yicai
Huawei Shrugs Off US Woes by Boosting This Year's Revenue Huawei Shrugs Off US Woes by Boosting This Year's Revenue

(Yicai Global) Oct. 16 --  Huawei Technologies has had financially promising first three quarters  of this year despite the Chinese telecom giant's troubles in the US. 

Huawei increased its  revenue by 24.4 percent from a previous year to CNY610.8 billion  (USD86.1 billion), the Shenzhen-based firm said in its unaudited  earnings report released today. Its net profit margin was 8.7 percent,  which would result in a total net profit of CNY53.1 billion.

The company signed  commercial fifth-generation wireless network contracts with more than 60  leading service providers around the globe, according to the report.  Among these, US firms should be rare as Huawei was placed on the Entity  List in May, which effectively restricts its business in the States.

On the phone front,  Huawei's handset shipments climbed by 26 percent to more than 185  million units. Huawei Mobile Services ecosystem expanded to 170 counties  and had nearly 1.1 million registered developers. 

In the first half, the firm's revenue rose by 23.3 percent from a year ago to CNY401.3 billion.

Editor: Emmi Laine 

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Keywords:   Financial Performance,First Three Quaters,Huawei,5G Communication