Vendor earnings: Huawei 1H revenue up 11%

Dylan Bushell-Embling
25 Jul 2013
00:00

Huawei's 1H revenue grew a solid 10.8% to 113.8 billion yuan ($18.5 billion), its unaudited results show. On the strength of the results, the Chinese vendor expects its profit margin to be 7-8% for the full 2013. Huawei attributed the 1H results to fast growth in the company's consumer segment and steady growth in carrier networking gear sales.

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Apple revealed its June quarter profit fell 22% to $6.9 billion. Revenue grew just 0.8% to $35.3 billion. While iPhone sales grew to a record 31.2 million, from 26 million a year earlier, iPad sales fell to 14.6 million from 17 million over the same period. Gross margin also declined to 36.9% from 42.8%. Despite the lackluster results, they were better than analysts had been expecting, prompting a 5.1% increase in the company's Nasdaq share price.

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Juniper Networks' preliminary Q2 results show a 69.6% jump in profit to $97.9 million, and 7% higher revenue of $1.15 billion. Operating margin improved 3.2 percentage points sequentially to 12%. The company expects revenue for the third quarter to be in the range of $1.14 billion and $1.18 billion. Juniper also used the earnings call to announce the pending departure of Kevin Johnson, its CEO. Johnson will retire after a successor is found.

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CEO notice

LG Electronics posted a 13 billion won ($11.6 million) year-on-year decline in net profit to 156 billion ($139.8 million) won, despite a 10.1% increase in revenue to 15.23 trillion won. The electronics maker's smartphone business achieved a strong 34.5% growth in revenue to 3.12 trillion won, making it the fastest-growing of the vendor's market segments. The company shipped 12.1 million units during the quarter.

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