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Huawei sees strong Q3'19 revenue despite US trade headwinds

Chinese telecom equipment provider Huawei Technologies Co. Ltd. reported revenue of 610.8 billion Chinese yuan in the first three quarters of 2019, a 24.4% year-over-year increase, despite periods of uncertainty over whether it will be allowed to trade with the U.S.

Huawei's net profit margin for the third quarter saw no change from the first half of the year, at 8.7%. Third-quarter revenue was 209.5 billion yuan.

The company secured more than 60 5G commercial contracts with global operators in the first three quarters. In July, Huawei said it had agreed to 50 contracts in the first half of the year.

Huawei said it shipped 400,000 5G core components called Massive MIMO active antenna units.

Meanwhile, the telecom provider recorded smartphone shipments of over 185 million units in the first three quarters of 2019, up 26% year over year.

Huawei Mobile Service, a system Huawei built for its internet of things network, reported 1.07 million registered developers in 170 countries and regions in the first three quarters. It had 800,000 developers at the end of June.

As of Oct. 16, US$1 was equivalent to 7.09 Chinese yuan.