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Huawei’s 1Q revenue growth of 1.4% y-o-y 'within expectations'

The Edge Singapore
The Edge Singapore4/21/2020 10:25 PM GMT+08  • 2 min read
Huawei’s 1Q revenue growth of 1.4% y-o-y 'within expectations'
The employee-held company describes the 1Q results as “within expectations”.
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SINGAPORE (Apr 21): Huawei has managed to grow its revenue by 1.4% in the first quarter, even though the telecom and IT giant got to deal with the Covid-19 outbreak in its home market China and across many markets where it is active in.

For the first three months this year, its revenue increased by 1.4% y-o-y to RMB182.2 billion. Its net margin in the same period was 7.3%, which is somewhat similar to it achieved in FY2019.

For its FY2019, Huawei recorded revenue of RMB 858.8 billion, up 19% from FY2018. Earnings in the same period was up 5.6% to RMB62.7 billion.

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