Huawei’s H1 2023 results meet forecasts with robust growth

Huawei has unveiled its financial performance for the initial half of 2023, aligning closely with earlier projections.

During the first six months of 2023, Huawei garnered approximately $42.9 billion in revenue, marking a 3.1% year-on-year upswing, with a net profit margin of 15.0%. The company’s revenue was divided among various segments: the ICT infrastructure sector contributed $23.05 billion, the consumer division brought in $14.3 billion, the cloud domain accounted for $3.3 billion, the digital power segment also reached $3.3 billion, and the intelligent automotive solution (IAS) business yielded $137.8 million.

Sabrina Meng, the Rotating Chairwoman of Huawei, expressed gratitude to the company’s supporters, customers, and partners, as well as the entire Huawei team. Meng acknowledged the team’s unity and dedication and highlighted Huawei’s substantial investments in foundational technologies that align with digitalization, intelligence, and decarbonization trends. The focus remains on creating value for partners and clients.

The first half of 2023 witnessed the solidity of the ICT infrastructure business and growth in the consumer division. The cloud and digital power sectors experienced robust expansion, while new components for intelligent connected vehicles improved competitiveness.

In the Middle East and Central Asia (ME & CA), Huawei remains dedicated to advancing regional digital transformation goals by bolstering ICT ecosystems and offering advanced solutions for various sectors, including carriers, enterprises, cloud services, digital power, and consumers. The company continues to drive the 5G rollout and has even introduced 5.5G technology to the region through collaborations with multiple carriers.

Huawei’s cloud and digital power domains have witnessed expansion with the introduction of new cloud regions in ME&CA. This expansion aligns with the shift of carriers from energy consumers to producers, supporting governmental efforts to reduce carbon emissions.

Huawei has also made significant strides in nurturing talent through its CSR programs, including the Huawei ICT Academy, Seeds for the Future, and ICT Competitions. In the Middle East and Central Asia, there are now 240 Huawei ICT Academies, contributing to the training of over 200,000 ICT professionals. The company’s commitment to collaboration with partners is evident, with over 46,000 individuals obtaining Huawei certification.