Huawei says revenue in first three quarters ‘basically met expectations’ amid intense pressure on global supply chain
- Huawei said revenue was up 9.9 pct in first three-quarters
- Chinese technology giant is currently battling tighter US restrictions on chip supplies
Huawei Technologies, under fire from the Trump administration, said revenue in the first nine months “basically met expectations” amid the global pandemic and intense pressure on the Chinese technology giant’s supply chain.
Huawei generated 671.3 billion yuan (US$100.4 billion) in revenue in the first nine months of the year, up 9.9 per cent from the same period in 2019. The net profit margin was 8 per cent in the first three quarters, according to a statement on Friday, down from 9.2 per cent in the first six months and lower than 8.7 per cent in the same period last year.
Huawei did not break out the performance of its business segments, which include consumer, carrier and enterprise.
“As the world grapples with Covid-19, Huawei’s global supply chain was put under intense pressure and its production and operations saw increasing difficulties,” Huawei said in the statement. “We will do our best to find solutions, to survive and forge forward, and to fulfil [our] obligations to customers and suppliers.”