Huawei revenues hike by 4.8% to $24.7 bln in Q2 of 2023

Chinese tech giant Huawei announced on Friday its second-quarter overall revenue which grew by 4.8 percent year-on-year to 178.8 billion yuan $24.7 billion — the fastest pace since only the fourth quarter of 2022, according to CNBC calculations.

Huawei Technologies’ sales increased for a third straight quarter, after its new business (cloud services and a new smartphone unit) helped mitigate the fallout from U.S. sanctions.