Friday, August 6, 2021

Huawei's first half 2021 revenue drops 29% yoy - shift to enterprise

Huawei released the following business results for the first half of 2021:

In H1, Huawei generated CNY320.4 billion (approximately US$49.4 billion) in revenue, down 29.4% yoy, with its net profit margin reaching 9.8%.

  • Carrier business revenue: CNY136.9 billion, down 14.2% yoy 
  • Enterprise business revenue: CNY42.9 billion, up 36.3% yoy
  • Consumer business revenue: CNY135.7 billion, down 46.9% yoy

"We've set our strategic goals for the next five years," said Eric Xu, Huawei's Rotating Chairman. "Our aim is to survive, and to do so sustainably. We'll do this by creating practical value for our customers and partners. Despite a decline in revenue from our consumer business caused by external factors, we are confident that our carrier and enterprise businesses will continue to grow steadily."

Xu continued, "These have been challenging times, and all of our employees have been pushing forward with extraordinary determination and strength. I want to thank every single member of the Huawei team for their incredible effort. Going forward, we continue to believe deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. We will keep on innovating to help build a low-carbon, intelligent world."

Huawei reports a 13% increase in 2020 1H sales to US$64.9 biliion

Huawei reported overall revenue of CNY454 billion (approx. US$64.9 billion) in revenue for the first half of 2020, a 13.1% increase year-on-year, with a net profit margin of 9.2%.

Huawei's carrier, enterprise, and consumer businesses achieved CNY159.6 billion, CNY36.3 billion, and CNY255.8 billion in revenue, respectively.

The company issued the following statement: "As countries around the globe are grappling with the COVID-19 pandemic, information and communications technologies (ICT) have become not only a crucial tool for combatting the virus, but also an engine for economic recovery. Huawei reiterated its commitment to working with carriers and industry partners to maintain stable network operations, accelerate digital transformation, and support efforts to contain local outbreaks and reopen local economies."

"The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces."

Huawei's Q1 revenue drops 16.5% year-on-year

Huawei reported Q1 2021 revenue of CNY152.2 billion (US$23.17 billion) in revenue, a 16.5% decrease year-on-year. The company said its network business maintained steady growth, while its consumer business revenue declined, in part as a result of selling the Honor smart device brand in November 2020. Huawei's net profit margin was up 3.8 percentage points year-on-year at 11.1% – the result of the company's ongoing efforts to improve quality of...

FireEye posts Q2 sales of $248 million

FireEye reported Q2 revenue of $248 million, an increase of 8 percent from the second quarter of 2020, for its combined continuing and discontinued operations. Non-GAAP net income per basic share attributable to common stockholders of $0.09, compared to non-GAAP net income per basic share attributable to common stockholders of $0.09 in the second quarter of 2020.

For continuing operations, FireEye posted Q2 evenue of $114 million, an increase of 17 percent from the second quarter of 2020.

On June 2, 2021, the company announced the sale of the FireEye Products business (referenced above as discontinued operations) to a consortium led by Symphony Technology Group (“STG”) in exchange for a total cash consideration of $1.2 billion and assumption of certain liabilities. The transaction is currently expected to close by the end of the fourth quarter of 2021.

“The Mandiant Solutions business continued to deliver strong growth in revenue and annualized recurring revenue for the second quarter ended June 30, 2021,” said Kevin Mandia, FireEye Chief Executive Officer.

“With the elevated threat environment, organizations are increasingly turning to Mandiant to proactively assess whether they are prepared and protected before a breach occurs,” added Mandia. "The Mandiant Advantage platform enables customers to continuously improve their cybersecurity effectiveness through ongoing validation and security automation.”