Today, Huawei announced 1H19 results were CNY401.3B, up 23.2% Y/Y. Carrier business 1H19 revenues were CNY146.5B, with 50 commercial 5G contracts and shipments of more than 150,000 base stations. Enterprise 1H19 revenues were CNY31.6B. Consumer Business 1H19 revenues were CNY220.8B, with 118M smartphone units, up 24% Y/Y. The company said “revenue grew fast up through May. [and that] we continue to see growth even after we were added to the entity list.”
The fact that Huawei says it is still experiencing growth despite being placed on the US Entity List is important because it says that despite the efforts of the US to stymie Huawei, it is still growing. Huawei has typically provided semi-annual results to the public, so it is not odd that has not provided 2Q19 results, which were almost certainly weaker than 1Q19 results given the US efforts to slow Huawei.