Huawei reports FY 2024 revenue up 22.4% YoY to ~$118.2B, near its ~$123B record in 2020, net profit down 28% YoY to ~$8.63B, and R&D spend rising to ~$25B (Arjun Kharpal/CNBC)

Arjun Kharpal / CNBC:
Huawei reports FY 2024 revenue up 22.4% YoY to ~$118.2B, near its ~$123B record in 2020, net profit down 28% YoY to ~$8.63B, and R&D spend rising to ~$25B  —  Huawei on Monday reported a sharp jump in 2024 revenue as its core telecommunications and consumer businesses accelerated.