Hikvision Global Revenue Falls, Hit By Coronavirus
Hikvision's global revenue fell in the first quarter of 2020 due to the coronavirus, with Hikvision stating uncertainty for 2020 "is greater than in any previous year" and dropping sales projections. However, Hikvision said better years were still ahead and touted its "conservative" financial strategy.
The firm also announced ~$8.1 billion in sales for 2019 (prior to any coronavirus impact). While this number is an all-time high, sales and profit growth hit decade lows, with Hikvision partly blaming the impact of US human rights sanctions.
In this post, we examine the coronavirus' impact on Hikvision and its latest financial disclosures, including:
- Coronavirus Impact: Sales Drop 5%
- "Uncertainty Greater Than In Any Previous Year"
- Hikvision Claims Better Years Ahead
- Will "Control Growth of Staff Size", Could Reduce Outsourcing
- Retail Customers Hit Hardest
- No New Sales Data on Fever Cameras Yet
- 2019 Sales Hit $8.1 Billion, Growth Hits Decade Low
- Results "Can't Be Separated" From US Sanctions
- China Sales Slightly Higher, North America Sales Negative
- Final Analysis: Tough Times Ahead