Huawei's latest earnings report revealed that despite US sanctions, it still managed to increase its net profit by a whopping 564 percent year-on-year.
Huawei Defies US Sanctions With Profits
The news of the profit came in a notification from the Chinese company's holding company.
The filing shows a net profit for the first quarter of 2024 of 19.6 billion yuan ($2.7 billion), marking the fourth consecutive quarter of growth.
The filing also revealed that sales rose 37 percent to 178.8 billion yuan ($24.7 billion).
