Revenue declines but profit surges


Huawei reported its first yearly revenue decline on record in 2021 as U.S. sanctions continued to hurt the company.

But the Chinese technology giant’s income surged last year as it focused on boosting profitability.

“Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty,” Huawei’s chief financial officer, Meng Wanzhou, said in a statement.

Huawei’s annual report released Monday is the first high-profile corporate event Meng has led since returning to China from Canada, where she was engaged in a nearly three-year extradition battle with the United States. Meng spoke at a press conference at…

Source cnbc.com

0 0 votes
Article Rating

India buys cheap Russian oil; China could be next

Previous article

U.S.-EU gas deal won’t make up shortfall from Russia: Dan Brouillette

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Earnings