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Wednesday, March 22, 2023

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Huawei Revenue Jumps 40% in First Half of 2016

China’s Huawei has reported a 40 percent rise in its first half revenues for this year, reaching RMB245.5 billion (USD36.8 billion).
However, the operating margin fell to 12 percent from 18 percent in the previous half-year.
“We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations,” Chief Financial Officer Sabrina Meng said in a brief statement.
“We achieved steady growth across all three of our business groups, thanks to a well-balanced global presence,” Meng said, referring to the company’s telecom, consumer device and enterprise business segments.
The company has set a target of USD75 billion in revenues for 2016.

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