Huawei’s quarterly revenue grew by 39 percent to $27 billion

Huawei’s quarterly revenue grew by 39 percent to $27 billion

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Huawei Technologies announced its first-quarter results on Monday with its revenue for the first time ever surged by 39 percent to 179.7 billion yuan ($26.81 billion) in a quarterly result.

The Chinese technology firm is the world’s largest telecom equipment maker and in its recent quarter results, the company came on reporting net profit margin of about 8 percent which also remained a little higher than that in the same quarter a year ago, said the company, without disclosing any details of what the actual net profit was.

The escalating results came at a time when the United States has not only delisted Huawei from supplying equipments to government offices due to allegations of sanctions-busting and intellectual property theft but the company is also under an intensifying campaign against it by Washington, who has been pressuring other countries especially its allies to refrain from buying network switches and other gears from Huawei because of the worries that the company’s equipment could be used by Beijing for espionage, which Huawei repeatedly denied and said the concerns are unfounded.

The Shenzhen-based firm, which is also the third largest smartphone maker in the world,  despite intensifying U.S. campaign, came on securing more number of supply contracts to provide 5G telecoms gear than it previously had, the company said in last week.

As of March end, Huawei succeeded to win 40 commercial 5G contracts from carriers worldwide, while number of 5G base stations it has shipped to markets around the world were 70,000 and that are expected to be reaching 100,000 by May.

Though Huawei saw a decline in revenue in 2018, but in an interview this month, ompany’s founder Ren Zhengfei told CNBC that in the first quarter, company’s saw network equipment sales increasing at 15 percent while that of consumer business rose by more than 70 percent.

In the reported quarter, Huawei has shipped 59 million smartphones, which was, according to market research firm Strategy Analytics, 39.3 million in the first quarter of 2018.

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I am a lecturer at the University of Economics in Bratislava, department of Banking and International Finance. I have a Ph.D. academic degree, my dissertation was focused on major markets. Commodities and stock markets are also the main focus of my research and publication activities. I have approximately 10 years of investing experiences. My investments mostly focus on small- to mid-cap companies of energy sector, financial and technology.

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