Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Huawei has come under pressure in the last few years from U.S. sanctions. Last year, Huawei reported its first annual revenue decline on record.
However, the company’s latest figures showed second-quarter revenue of 170.6 billion yuan ($25.5 billion), up by 1.4% from a year ago, according to CNBC’s calculations.
That’s after a nearly 14% plunge in year-on-year revenue in the first quarter, and double-digit declines for every quarter going back to the third quarter of 2020. Revenue rose by 3.7% from the same period in 2019 to 217.3 billion yuan, the results showed.
However, for the first six months of 2022, revenue still declined — albeit by a narrower 5.9% pace. Of its three main business 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.
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