Huawei announced revenues of CNY 454 billion for the first half of 2020, up 13.1 percent from a year earlier. The figures suggest a strong recovery in the second quarter, after the company earlier reported only 1.4 percent growth in Q1. The company said its net profit margin was 9.2 percent in the first half, compared to 7.3 percent reported for Q1.
Huawei's carrier, enterprise, and consumer businesses achieved revenues of respectively CNY 159.6 billion, CNY 36.3 billion and CNY 255.8 billion. Further details of the results were not released.
Huawei said the Covid-19 pandemic had underlined the crucial role of ICT, not only in combatting the virus, but also as an engine for economic recovery. While not referring directly to the US-imposed restrictions against the company, Huawei said the "complex external environment makes open collaboration and trust in global value chains more important than ever". The company said it would continue to fulfill its obligations to customers and suppliers, "and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces".
