Huawei's financial report: Huawei's sales revenue will reach 862.1 billion yuan in 2024, a year-on-year increase of 22.4%

According to recent news, Huawei released its 2024 financial report. Driven by its five major businesses, its annual sales revenue returned to 800 billion yuan.

In 2024, Huawei achieved global sales revenue of 862.1 billion yuan, a year-on-year increase of 22.4%; net profit of 62.6 billion yuan (an average daily net profit of about 200 million yuan), among which AI cloud services, mobile terminals and smart car solutions businesses performed most outstandingly.

Specifically, Huawei Cloud achieved sales revenue of 68.8 billion yuan, a year-on-year increase of 24.4%. Overseas public cloud revenue increased by more than 50%, and Ascend AI cloud service achieved a six-fold growth.

In addition, Huawei's terminal business achieved sales revenue of 339 billion yuan, a year-on-year increase of 38.3%. The increasingly popular mobile phones were the main reason for the high growth rate of this business.

In terms of mobile phones, Huawei released a number of products throughout last year, including the vertical folding, P series upgraded Pura 70 series, tri-fold mobile phones, and Huawei Mate 70 series.

The intelligent vehicle solution business achieved sales revenue of 26.353 billion yuan, a year-on-year increase of 474.4%. The automotive business revenue increased 4.7 times and achieved its first year of profitability. The terminal business revenue was close to the ICT basic plate.

Regarding the achievements of each business, Huawei stated in its financial report that the computing industry has benefited from the layout ten years in advance and has seized the opportunity of AI to achieve significant growth; terminals have returned to the fast lane of growth, and the Hongmeng ecosystem is making historic breakthroughs; Huawei Cloud continues to optimize its business structure; Digital Energy insists on quality first; and smart car solutions achieved profitability for the first time in the year.

The ICT infrastructure business is Huawei's ballast. Although operator customers' 5G network investment has begun to slow down in recent years, Huawei's ICT infrastructure business revenue still grew in 2024, reaching 369.9 billion yuan, a year-on-year increase of 4.9%, continuing to maintain its position as the business unit with the largest share of revenue.