Huawei revenue surges 24.4% to $86 bn in three quarters of 2019

Huawei Technologies said revenue grew 24.4 percent to 610.8 billion yuan or $86 billion in the first three quarters of 2019.
Huawei at Mobile World Congress 2019
The company’s net profit margin in this period was 8.7 percent in the first three quarters of 2019.

Huawei today did not reveal the revenue break-up from its telecom network business, smartphone and enterprise business. Huawei earlier said its main revenue contributing division is smartphone business.

Huawei, despite facing black-list by the United States, said it shipped more than 185 million smartphones in the same period, up 26 percent year-on-year. It did not provide figures for the third quarter alone.

The company said in August that while the impact of U.S. trade restrictions will be less than initially feared, the curbs could push its smartphone unit’s revenue lower by about $10 billion this year.

Huawei is the world’s biggest maker of telecom network equipment and the second-largest smartphone maker.

Huawei reported 23.2 percent rise in first-half revenue in July.

Huawei has signed more than 60 contracts for 5G with global carriers. It shipped more than 400,000 5G Massive MIMO active antenna units (AAUs). Huawei said the production and supply of Huawei’s optical transmission, data communications, and IT products grew steadily.

Huawei said its enterprise business has signed more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies for digital transformation by the end of Q3 2019.