Huawei’s Sales Grow Again as New Arenas Mitigate Sanctions Hit
- Net profit almost tripled with the help of business sales
- Huawei is diversifying its business away from sanctions impact
Huawei credits improvements in operational efficiency, sales strategy and product mix for its return to growth.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Huawei Technologies Co. grew sales for a third straight quarter, after new businesses like cloud services and a resurgent smartphone unit helped mitigate the fallout from US sanctions.
Revenue rose 4.8% to 178.8 billion yuan ($24.7 billion) in the three months ended June, according to calculations by Bloomberg News based on the company’s first-half numbers. Net income almost tripled, at 26.8 billion yuan, after recording gains from earlier business sales.