Huawei Technologies’ first-quarter net profit surges 564% y/y

By Thomson Reuters Apr 30, 2024 | 5:55 AM

BEIJING (Reuters) – Huawei Technologies posted a first-quarter net profit of 19.65 billion yuan ($2.71 billion) on revenue of 178.45 billion, a filing showed on Tuesday.

Its net profit surged by 564% while revenue advanced 36.7%, based on calculations comparing the data from its results a year earlier.

($1 = 7.2381 Chinese yuan renminbi)

(Reporting by Brenda Goh; editing by Jason Neely)