Huawei Technologies maintained revenue growth momentum in the first three quarters of 2023, on the back of strong sales of its Mate 60 series 5G smartphones as the company continues to defy the impact of US sanctions, reports the South China Morning Post. On Friday, the Shenzhen-based company said its revenue from January to September reached RMB 456.6 billion ($62.4 billion), up 2.4% compared with the same period last year. However, revenue growth was slower than the 3.1% increase in the first half.
Net profit margin in the first nine months was 16% as Huawei recorded partial gains from the sale of businesses and improved efficiency, a slight improvement from the 15% in the first half, according to the company.
Huawei said the performance was in line with forecasts. While the company is privately held, it voluntarily discloses key financial data on a regular basis.