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Huawei’s Quarterly Revenue Growth Slows, Hit by U.S. Sanctions

  • Sales rose 3.7% and profitability eased in most-recent quarter
  • It will focus on comms tech after blow to consumer business
Huawei Stores As U.S. Chip Curb Deadline Approaches

Source: Bloomberg

Huawei Technologies Co.’s quarterly revenue expanded at a slower pace after the Trump administration’s curbs took a toll on its consumer business during the Covid-19 pandemic.

Sales climbed by 3.7% to 217.3 billion yuan ($32.5 billion) from a year earlier, versus 23% for the second quarter, according to Bloomberg calculations based on January-September figures reported by Huawei. Nine-month revenue was up 9.9% year-on-year and its net profit margin for the period was 8%, compared with 9.2% for the first half.