Huawei’s Sales Grow Again as New Businesses Mitigate U.S. Sanctions

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Huawei and Apple Inc. were the only two major brands to record growth in China smartphone shipments in the second quarter

(Bloomberg) — Huawei Technologies Co. sales rose for a third straight quarter after new businesses like cloud services and a resurgent smartphone unit helped mitigate the fallout from U.S. sanctions.

Revenue rose 4.8% to 178.8 billion yuan ($24.7 billion) in the three months ended in June, according to calculations by Bloomberg News based on the company’s first-half numbers. Net income almost tripled to 26.8 billion yuan after the company recorded gains from earlier business sales.