Huawei has reported its first quarterly revenue growth since the fourth quarter of 2020. The company was hit by one of the harshest US sanctions in September 2020. For the second quarter of 2022, the Chinese telecom giant recorded RMB 170.6 billion ($25.3 billion) in revenue, a 1.43% growth from the same period last year, while net profit was RMB 9.48 billion, a 34.65% decline, according to the company’s financial results for the first half of 2022 and Caixin’s calculations. For the first half of 2022, Huawei reported RMB 301.6 billion in revenue, a 5.9% year-on-year fall. A Huawei spokesperson told TechNode that the steady growth of its 5G business and the rapid rise of units such as core cloud networks contributed to the overall growth of the firm’s carrier network business both in China and overseas. The spokesperson added that the firm’s enterprise business teams, such as those integrated with digital finance, digitized electricity, smart transport, and coal, grew faster than average. [Caixin, in Chinese]

Update: The time of the US sanction has been updated.