Huawei's revenue growth slows as the US blacklist and coronavirus outbreak bites
The firm said growth remained "resilient" despite headwinds related to Covid-19 and U.S. political pressure.
The Chinese tech giant's revenues came in at 182.2 billion Chinese yuan in the first quarter, up around 1.4% from the 179.7 billion it reported a year ago. By contrastThe company also reported net profit margin of 7.3%, down from 8% in the first quarter of 2019. Last year, Huawei was placed on the U.S. Entity List, a government blacklist that prevents U.S. companies from doing business with the firm without a. Washington alleges Huawei equipment could enable Chinese spying, but the company has repeatedly denied such claims.
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