Huawei Investment Holdings Co. reported a net profit of RMB 16.85 billion yuan ($2.6 billion) in the first quarter, up 26.65 percent from 13.304 billion yuan a year earlier, the company said in a report released Wednesday.
Its operating income for the quarter was 150.57 billion yuan, down about 17 percent from 180.61 billion yuan a year earlier.
Huawei's 2020 annual report announced on March 31 showed the company's 2020 net profit was 64.6 billion yuan, up 3.2 percent from 62.7 billion yuan in 2019.
Huawei's revenue in 2019 was 858.8 billion yuan and global sales in 2020 was 891.4 billion yuan, an increase of 3.8%.
Huawei's revenue in Asia Pacific excluding China declined 8.7 percent to 64.4 billion yuan in 2020.
The company's revenue in Europe, Middle East and Africa declined 12.2 percent to 180.8 billion yuan in 2020.