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Huawei releases less information about its business as U.S. sanctions take effect

October 23, 2020

Via: Fortune

Under pressure from the pandemic and U.S. sanctions, Huawei Technologies is being less forthcoming about the state of its business.

“Throughout the first three quarters of 2020, Huawei’s business results basically met expectations,” the Chinese company said in a statement announcing its results for the first three quarters of the year.

In the first nine months, revenues at the beleaguered tech giant increased 9.9% over last year, raking in $98 billion. Its net profit margin was 8%. But that’s all the information Huawei offered, declining to report revenue breakdown by segment as it did in its second quarter report.

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