[Shenzhen, China, April 22, 2019] Huawei today announced its business results for the first quarter of 2019. In Q1 of this year, Huawei generated CNY179.7 billion in revenue, an increase of 39% year-on-year. The company's net profit margin in Q1 2019 was about 8%, slightly higher than the same period last year.
Huawei maintained its focus on ICT infrastructure and smart devices, and continued to boost the efficiency and quality of its operations, which has helped contribute to its solid performance in Q1 2019.
2019 will be a year of large-scale deployment of 5G around the world, meaning that Huawei's Carrier Business Group has unprecedented opportunities for growth. By the end of March 2019, Huawei had signed 40 commercial contracts for 5G with leading global carriers, and had shipped more than 70,000 5G base stations to markets around the world.
Also in Q1 2019, Huawei's Enterprise Business Group launched its Digital Platform and its new "Huawei Inside" strategy. Huawei is committed to building the foundations of a digital China and the core of a digital world by delivering the Digital Platform along with ubiquitous connectivity and pervasive intelligence. Huawei's Enterprise Business Group also deployed the world's first 5G-enabled Wi-Fi 6 access point. As of the end of Q1 2019, Huawei had shipped more Wi-Fi 6 products than any other company worldwide.
Huawei's Consumer Business Group continues to create value for consumers with its innovative products. Its core strategy is to deliver an intelligent experience to consumers across all scenarios. In Q1 2019, Huawei shipped 59 million smartphones. In other business segments like PCs, wearables, and smart home, Huawei has been welcomed by global consumers for its leading, innovative products and superior user experiences.
HUAWEI CLOUD remains committed to innovation. It aims to build the best possible hybrid cloud, provide full-stack AI solutions for intelligent industries, and make inclusive AI a reality. More than one million enterprise users and developers have chosen to work with HUAWEI CLOUD. In Q1, HUAWEI CLOUD services were launched in Singapore, and HUAWEI CLOUD released its AI model market. HUAWEI CLOUD's one-stop-shop AI development platform – ModelArts – came first in both image classification training and inference in the Stanford DAWNBench deep learning competition.
The financial data disclosed here are unaudited figures compiled in compliance with the International Financial Reporting Standard; exchange rate at the end of March 2019: US$1 = CNY6.7112 (source: Reuters).