Huawei’s Q1 revenues up 39% year-on-year

Huawei posted revenues of CNY179.7 billion ($26.8 billion) in the first quarter of 2019, an increase of 39% year-on-year, the company said in a release. The vendor’s net profit margin in Q1 2019 was about 8%, slightly higher compared to the same period last year. “Huawei maintained its focus on ICT infrastructure and smart devices, and continued to boost the efficiency and quality of its operations, which has helped contribute to its solid performance in the first quarter of 2019,” the company said.
“2019 will be a year of large-scale deployment of 5G around the world, meaning that Huawei’s Carrier Business Group has unprecedented opportunities for growth,” Huawei added. “By the end of March 2019, Huawei had signed 40 commercial contracts for 5G with leading global carriers, and had shipped more than 70,000 5G base stations to markets around the world.”