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Huawei announces Q1 2020 business results

Huawei's Q1 2020 business results have begun to show the after-effects of the COVID-19 pandemic, as well as the US blacklisting of last year.

While not negative, these reported figures show signs of slowed growth Huawei generated $25.7 billion in revenue approximately, an increase of 1.4% year-on-year The company's net profit margin in Q1 2020 was 7.3%

Huawei this week announced its business results for the first quarter of 2020, as COVID-19 and the US blacklisting begin to show their effects. In Q1 of this year, Huawei generated $25.7 billion in revenue approximately, an increase of 1.4% year-on-year. The company’s net profit margin in Q1 2020 was 7.3%.

As COVID-19 continues to spread around the world, Huawei is taking proactive measures to ensure the safety of its employees. The company and its supplier network are working together to address the tough challenges facing production and resume operations. Huawei’s business is continuing as usual and its overall business results in Q1 2020 are in line with expectations.

Networks are a lifeline for people from all walks of life during this public health crisis, so ensuring normal network operations is of paramount importance. Huawei is helping carriers ensure stable and secure network operations following the demand created by social distancing as people switch to telecommuting, distance education, and e-commerce for daily necessities.

Read: Huawei releases its 2019 Annual Report, records $9 billion net profit

Since the outbreak, Huawei and its partners have rapidly launched many 5G- and AI-powered medical applications. Huawei are using their expertise in communications technologies to help fight the pandemic and save more lives. The AI-assisted coronavirus diagnosis solution cuts CT scan review times from 12 minutes down to 2, helping doctors improve their diagnostic efficiency. 5G-enabled remote video consultation helps mitigate shortages of frontline experts and increases the efficiency of diagnosis and treatment of critical patients. AI-powered thermal imaging devices can take temperatures, increasing the efficiency of infection prevention and control in public places. In addition, Huawei has been doing its best to get masks, test kits, and other protective supplies to the countries and organizations that need them.

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