Huawei’s revenue growth slowed sharply in the third quarter while its margin dipped as U.S. sanctions disrupt its business, CNBC reports. Revenue for the September quarter came in at 217.3 billion yuan (US$31.91 billion), up just 3.7 percent from the 209.5 billion yuan recorded in the same period last year. For the first nine months of the year, revenue was 671.3 billion yuan (US$98.57 billion), up by 9.9 percent from the 610.8 billion yuan reported in the same period last year. In the first nine months of 2019, Huawei’s revenue growth was 24.4 percent. Huawei did not release a breakdown of what parts of its business contributed to revenue growth.

Source: The Standard October 23, 2020 06:45 UTC