Huawei R&D spending exceeds 15 billion USD in first three quarters of 2022

Huawei has published its third quarter report for revenue and R&D amount details. As per the revealings, the company has gained a total revenue of 441.141 billion yuan [60.41 billion USD] in just the first three quarters of this year.

This has resulted in a net profit of 23.927 billion yuan [3.15 billion USD]. Consequently, Huawei is gradually touching the success bars. On the other hand, Huawei’s R&D expense has increased to 110.581 billion yuan [15.07 billion USD].

The report further reveals that last year, the R&D amount of Huawei was 102.34 billion yuan. Comparatively, Huawei has gained an increment of 8.241 billion yuan [1.09 billion USD].

Notably, as per the Huawei investment holdings statements, the company has seen a net loss of 271 million yuan last year. Meanwhile, this time there is a net profit of 77.814 million yuan. Thus, the overall income statement is running in the positive field for the moment.

In the last decade, Huawei has spent more than 845 billion yuan in the research and development sector (R&D). However, after a long time, the company has achieved a good result in its investment.

The Rotating Chairman of Huawei – Xu Zhijun says that the report outcomes are symmetrical to the company’s expectations. Things are finally taking good shape and the company will continue to invest and make a profit in the R&D sector.

“The overall operating results are in the line with expectations. The downward trend of the terminal business continues to slow down and the ICT infrastructure business maintains stable growth. Huawei will continue to attract outstanding talents, constantly invest in research and development, and will continuously improve product competitiveness for customers, and create value for society.”

[Source]