Huawei Increases H1 Sales by 4.5%
But its operating profit was down by 29 percent year-on-year at RMB8.79 billion ($1.38 billion), while its operating margin of 8.6 percent was down compared with 12.6 percent a year ago.
The vendor notes that it "continues to maintain robust growth momentum although the global economic situation and telecom equipment market remains a significant challenge."
The company also said that it is focused on "more effective growth and greater efficiency to drive continued improvements in operating performance" and that it is "relatively optimistic about our operating performance and profitability for the remainder of 2012."
The vendor didn't provide details for its three main business groups, Carrier Network, Enterprise and Consumer (including mobile devices).
REPORTING NOTE: It's worth noting here that, in its announcement, Huawei stated that its revenues were up by 5.1 percent compared with a year ago and that its operating profit is down by 22 percent, better than the figures we have given above. This will be because the company changed its reporting methodology earlier this year and now reports the numbers for its parent company rather than just Huawei Technologies. (See The Number's Up for Huawei.)
Our calculations, as stated above, compare the numbers issued today for 2012 with the numbers issued last year for the first half of 2011.
— Ray Le Maistre, International Managing Editor, Light Reading