Huawei Posts Sharp Rise in First Half Revenues
Huawei has reported a 19 percent jump in its first half revenues of CNY135.8 billion (USD21.9 billion) compared to a year ago.
Revenue and profit for the first half of 2014 are in line with our expectations. Driven by increasing investments in LTE networks worldwide.
“Huawei has further solidified its leadership position in mobile broadband, We are confident that in 2014 we will achieve sustainable growth, robust operations, and healthy financials.”
Said Cathy Meng, Huawei’s Chief Financial Officer.
It declined to say how much profit, or indeed, loss the company might have made, but did say that the underlying operating margin came in at 18.3 percent.
The somewhat secretive company did not elaborate any further on its financial performance, which won’t do much to help improve its image in the USA where the firm is looked on with deep suspicion by US politicians.