Huawei anticipates 11.6% bump in global revenue

CFO announces unaudited financial results for 2013

Tags: Huawei Technologies Company
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Huawei anticipates 11.6% bump in global revenue Meng attributed the growth to heightened R&D investment.
By  Stephen McBride Published  January 16, 2014

China-based technology giant Huawei this week said its global sales revenue is estimated to reach between $39.22bn and $39.44bn in 2013, an increase of approximately 11.6%, year on year.

Huawei's chief financial officer Cathy Meng announced the company's unaudited financial results for 2013, also mentioning that Huawei's operating profit for 2013 is expected to be in the range $4.7bn to $4.83bn, with cash flow from operating activities and the company's asset-to-liability ratio remaining stable.

Huawei operates in more than 140 countries worldwide, and has seen growth in all three of its business groups: carrier network, enterprise and consumer. More than 75% of the carrier network group's revenue in 2013 came from the world's top 50 telecom operators, while the proportion of revenue from services and software in the carrier business increased to 37% in 2013 from 34% in 2012.

Meng attributed the growth to heightened R&D investment.

"Every year for over the past 10 years, Huawei has invested more than 10% of sales revenue in innovation," she said.

"In 2013 alone, the company's investment in R&D reached $4.8bn, accounting for about 14% of our sales revenue."

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