Huawei's dual quarter revenue has grown slightly from the past year

August 15, 2022: -On Friday, Chinese telecommunications giant Huawei released figures showing its first quarterly revenue increase since 2020.

Huawei has been under pressure in the previous few years from U.S. sanctions. Last year, Huawei reported its first annual revenue decline on record.

Although, the company’s most delinquent figures showed second-quarter revenue of 170.6 billion yuan, up by 1.4% from a year ago, according to the calculations of CNBC.

That’s after a close 14% drop in yearly revenue in the first quarter and double-digit declines for every quarter going around to the third quarter of 2020. Revenue increased by 3.7% from the identical period in 2019 to 217.3 billion yuan, the results showed.

Nevertheless, revenue declined for the first six months of 2022, albeit by a narrower 5.9% pace.

Of its three main industry segments, Huawei’s enterprise unit, which includes cloud and business services, posted the most revenue growth, up by about 28% to 54.7 billion yuan in the first half of the year.

Huawei did not release a revenue breakdown by business segment for the quarter.

The company’s carrier business remained the largest, with year-on-year growth of 4% to 142.7 billion yuan in the first six months of 2022.

The device business continued to suffer from falling smartphone sales. Segment revenue declined by 25% in the year’s first half to 101.3 billion yuan.

Huawei’s venture into electric cars falls mainly under the device business unit, according to the company.