Huawei reports its revenue inched higher in January-September despite US sanctions

By ZEN SOO
AP Technology Writer

HONG KONG (AP) — Chinese telecoms equipment maker Huawei Technologies has reported its profit inched higher in the first three quarters of this year despite persisting U.S. sanctions that have hindered both its sales and its purchases of advanced technology. Huawei said Friday that it earned 456.6 billion yuan ($86.3 billion) in revenue in January-September, up 2.4% from the same period last year. Huawei said its net profit margin rose to 16%. It did not give a comparative figure for 2022. Huawei has struggled since former U.S. President Donald Trump put the firm on a blacklist that blocked the Chinese company from doing business with U.S. firms, accusing it of potentially spying for China. Huawei denies that.