Huawei Technologies' first-quarter net profit surges 564% y/y

FILE PHOTO: Customers shop at a Huawei's flagship store, as Huawei Pura 70 series models go on sale, in Beijing, China April 18, 2024. REUTERS/Tingshu Wang/File Photo

BEIJING (Reuters) - Huawei Technologies posted a first-quarter net profit of 19.65 billion yuan ($2.71 billion) on revenue of 178.45 billion, a filing showed on Tuesday.

Its net profit surged by 564% while revenue advanced 36.7%, based on calculations comparing the data from its results a year earlier.