Huawei posts revenue growth despite US sanctions

Zhu Shenshen
Despite facing strict US tech sanctions, Huawei has posted a growth in revenue in the first quarter, up 0.8 percent year on year.
Zhu Shenshen

Huawei Technologies reported revenue slightly edging up in the first quarter, despite the tech giant facing strict US sanctions.

Huawei reported on Friday that its revenue hit 132.1 billion yuan (US$19.15 billion) in the quarter, a 0.8 percent growth year on year.

It also posted profitability in the quarter as a net profit margin of 2.3 percent, the company said on its website.

The result is "in line with expectations" and Huawei will continue to invest more in R&D for high-quality development.

In an analyst conference held in April, Sabrina Meng, Huawei's deputy chairwoman, rotating chairwoman and CFO, said she was still optimistic for Huawei's performance in 2023.

"Digitalization is a blue ocean (or promising market) for the whole industry," Meng said. "Huawei will keep investing in domains like connectivity, computing, storage and cloud."

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