Huawei has announced results for the first quarter of 2020. The company has reported $25.8 billion in revenues, recording a year-on-year (YoY) increase of 1.4 per cent.
However, Huawei’s net profit margin went down from 8 per cent during Q1 2019 to 7.3 per cent during Q1 2020.
While some industry analysts believe this to be a good performance given the prevailing circumstances, others have highlighted Huawei’s Q1 2020 YoY growth in revenue is significantly lower than the 39 per cent growth that the company had achieved during the same period in 2019.
Meanwhile, Huawei has said its business is continuing as usual and its overall business results in Q1 2020 are in line with expectations.
As per industry reports, Huawei and its partners have rapidly launched several 5G and AI-powered medical applications in an effort to effectively mitigate the risks surrounding the ongoing COVID-19 pandemic.
Huawei also highlighted that its revenue during the full year 2019 increased by 19.1 per cent, implying a good performance.