Caixin
Aug 13, 2022 04:37 AM
BUSINESS

Huawei Reverses Six-Quarter Sales Slump as Diversified Businesses Offset Sanctions

Huawei posted 170.6 billion yuan ($25.3 billion) of revenue in the second quarter, up 1.43% from a year ago
Huawei posted 170.6 billion yuan ($25.3 billion) of revenue in the second quarter, up 1.43% from a year ago

Huawei Technologies Co. Ltd. booked its first quarter of year-on-year revenue growth in the three months ended in June after six quarters of declines dating to late 2020, as its business diversification helped to offset the impact of U.S. sanctions on its smartphone sales, according to the company’s data released on Friday.

The Chinese tech giant posted 170.6 billion yuan ($25.3 billion) of revenue in the second quarter, up 1.43% from a year ago, according to Caixin’s calculation, an improvement over a steep 14% first-quarter year-on-year drop in revenue to 131 billion yuan.

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