Huawei Technologies said its revenue for the January-March quarter grew 37 percent to 178.5 billion yuan or $24.64 billion. It did not break down how business units, such as smartphones, enterprise network and telecom network performed.
Huawei Technologies’s net profit surged 564 percent to 19.65 billion yuan ($2.71 billion) in the first quarter, the filing to China’s National Interbank Funding Center showed, Reuters news report said.
A Huawei spokesperson said digitalization, intelligence, and decarbonization helped to drive revenue growth.
“The industry and global markets will remain rife with uncertainty for the rest of 2024. Nevertheless, we are continuously building out mechanisms for global business continuity and agile operations,” the company said.
“We are confident that we can meet our annual business targets and achieve sustainable growth.”
Last year, Huawei recorded its fastest revenue growth in four years, with a rebound in its consumer segment and income from new businesses like smart car components accelerating its recovery from U.S. sanctions.
Huawei started selling its high-end Pura 70 smartphone series this month.
