Huawei’s Q3 revenue rises 24.4% despite US pressure

SHANGHAI: Chinese tech giant Huawei said on Wednesday that its revenue for the first nine months of the year grew 24.4 percent year-on-year despite a US campaign to isolate the company globally.

Huawei’s revenues jumped to 610.8 billion yuan ($86.2 billion) and its profit margin grew 8.7 percent, the company announced.

The firm has been under immense pressure this year as Washington lobbied allies worldwide to avoid the company’s telecom gear over security concerns, and in May blacklisted it from both the US market and buying crucial US components.

The United States has expressed concerns that Huawei equipment could contain security loopholes that allow China to spy on global communications traffic.