Huawei Technologies Posts Solid Earnings

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Huawei Technologies Posts Solid Earnings
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Huawei Technologies Co. Ltd., the largest telecommunications equipment manufacturer in China, reported solid financial results for its fiscal 2013 driven by strong performance of its business in all areas.

Huawei Technologies financial results

The Chinese telecommunications equipment manufacturer said its revenue increased to 239 billion yuan ($39.46 billion) from 220 billion yuan in 2012. Its net profit was 21 billion yuan ($3.47 billion), up from 15.6 billion a year earlier.

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Huawei Technologies Co. Ltd. said its operating profit increased from 20.65 billion yuan in 2012 to 29.12 billion yuan ($4.8 billion). Its operating margin is the same at 12.2%. The company said its total assets climbed from 210 billion yuan to 231 billion yuan ($38.22 billion).