Huawei’s profit more than doubles in 2023, sales up 9.6% as cloud and digital businesses grow
Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions
By ZEN SOO
Published - Mar 29, 2024, 04:06 AM ET
Last Updated - Mar 29, 2024, 04:27 AM EDT
HONG KONG (AP) — Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions.
The Shenzhen-based company reported a net profit of 87 billion yuan ($12 billion), helped by strong sales and an improved product portfolio. Revenue jumped nearly 10% from a year earlier, to 704.2 billion yuan ($97.4 billion).
Huawei’s rotating chairman Ken Hu said the company’s figures were in line with forecasts.
“We’ve been through a lot over the past few years. But through one challenge after another, we’ve managed to grow,” Hu said.
