Huawei announces Q3 2020 business results

SHENZHEN: Huawei yesterday announced its business results for the first three quarters of 2020. During this period, Huawei generated $8.57 billion in revenue, an increase of 9.9 percent over the same period last year. The company’s net profit margin in this period was 8.0 percent. Throughout the first three quarters of 2020, Huawei’s business results basically met expectations.

As the world grapples with COVID-19, Huawei’s global supply chain is being put under intense pressure and its production and operations face significant challenges. The company continues to do its best to find solutions, survive and forge forward, and fulfill its obligations to customers and suppliers.

Moving forward, Huawei will leverage its strengths in ICT technologies such as AI, cloud, 5G, and computing to provide scenario-based solutions, develop industry applications, and unleash the value of 5G networks along with its partners. Its stated goal is to help enterprises grow their business and help governments boost domestic industry, benefit constituents, and improve overall governance.

ICT has become a cornerstone of modern society and the main driver behind sustainable social, economic, and environmental development. Huawei believes that rapid and healthy development within the ICT industry will rely on open collaboration and mutual trust across the global industry, so it will continue working closely with its global partners and using its innovative ICT technologies to create greater value for customers despite the complex situation it is currently facing. The company will continue contributing to pandemic responses, economic growth, and social progress.

The financial data disclosed here are unaudited figures compiled in compliance with the International Financial Reporting Standards.