For the first three quarters of 2020, Huawei achieved sales revenue of 671.3 billion yuan, up 9.9 percent year-on-year, with a net profit margin of 8.0 percent, the company said today, adding this result was largely in line with expectations.
With the world facing the severe challenges of Covid-19, Huawei's global supply chain system is simultaneously facing tremendous external pressures, which has caused a lot of difficulties in production and operations, Huawei said, adding that it will, however, do its best to find solutions in an effort to survive and move forward, and is committed to fulfilling its obligations with customers and suppliers.
"In the next phase, we will leverage Huawei's capabilities in AI, cloud, 5G, computing and other ICT technologies to unite partners to provide scenario-based solutions, develop industry applications and unlock 5G network dividends," the company said.
Huawei's first-half results released in the interbank market on Aug. 28 showed that Huawei achieved a total operating revenue of RMB 45.7 billion, up 13.67 percent year-on-year, and a net profit of RMB 43.1 billion, up 23.49 percent year-on-year.
Huawei sees slower revenue growth of 13.1% in first half of 2020
According to Huawei's unaudited financial information, in the first half of 2019, Huawei achieved a total sales revenue of RMB 401.3 billion, up 23.2% year-on-year, and a net profit margin of 8.7%. The net profit was not announced at that time.
Thus, compared to the previous year, Huawei's revenue and net profit still maintained a more solid growth trend.
By quarter, Huawei's revenue was 180.6 billion yuan, up 2% year-on-year, while net profit was 13.347 billion yuan, down 7.57% year-on-year.
However, entering the second quarter, the second quarter profitability rapidly improved, operating income of 270.1 billion yuan, an increase of 49.55%, and net profit of 29.753 billion yuan, an increase of 122.91%.
Huawei ranks No. 1 in Chinese firms with most software business revenue
