Friday, December 8, 2023

Huawei billed €17,363 million in the first quarter of 2023, 0.8% more

Chinese tech giant Huawei reached a turnover of 132.100 million yuan (€17.363 million) in the first three months of 2023, which represents an advance of 0.8% compared to the billing of the same period of the previous year.

“The results Group overall results were in line with forecasts. Huawei has once again increased its investment in R&D to continue innovating in the future, create new worth for its clients, collaborators and societies around the world, and to promote quality development”, the company explained in a press release.

Also, the margin on the benefit Huawei net decreased between January and March to 2.3% from 4.3% corresponding to the first quarter of 2022. According to the estimates of Bloomberg News Based on these data, Huawei’s net profit would have fallen by 46%, to 3 billion yuan (€394.3 million).

In May 2019, Huawei was listed by the White House on a list of entities from which US companies may not purchase technology components without permission from the Government of USA. Likewise, North American pressures have sought to exclude the Chinese manufacturer from the expansion processes of 5G networks in different countries.

Huawei Investment & Holding Co. reported at the end of March that it achieved net attributable profit of 35,534 million of Chinese yuan (€4,670 million) in 2022 and reduced its earnings, for the first time, by 68.7% compared to those recorded in the 2021 financial year.

As for the figures of business, Huawei entered 642,338 million yuan (€84,429 million), which represented an improvement of 0.9% compared to the 636,807 million yuan (€83,702 million) entered in 2021.

“An environment challenging and non-market factors continue to hurt Huawei’s operations. In the midst of this storm, we have continued to move forward and do everything possible to maintain business continuity and deliver for our customers,” he said. Eric Xurotating president of Huawei, when they presented the data for 2022, referring to the impact of the sanctions decreed against the company by the United States.

“We trust our capabilities to overcome any challenge and we will create a solid foundation for survival and sustainable development,” Xu added, however.


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