Huawei announced its business results for the first three quarters of 2023 today.
During this period, Huawei generated CNY456.6 billion in revenue, with a year-on-year increase of 2.4% and a net profit margin of 16.0%, said a press release.
‘In 2022, Huawei generated USD 93.5 billion in revenue and USD 5.2 billion (approx.) in net profits.
Huawei continued to strengthen its investment in R&D, with an annual expenditure of USD 23.5 billion in 2022, representing 25.1% of the company's annual revenue and bringing its total R&D expenditure over the past ten years to more than USD 142.3 billion.’
"The company's performance is in line with forecast," said Ken Hu, Huawei's Rotating Chairman. "I'd like to thank our customers and partners for their ongoing trust and support. Moving forward, we will continue to increase our investment in R&D to make the most of our business portfolio and take the competitiveness of our products and services to new heights. As always, our goal is to create greater value for our customers, partners, and society.