Hong Kong (CNN Business) Things are looking up for Huawei despite the best efforts of the US government.

The Chinese telecoms company posted a 39% jump in first quarter revenue and reported a profit margin of about 8%, slightly higher than the same period last year.

Huawei attributed the jump in revenue to a continued focus on fast-growing areas of its business such as smart devices, and a push to streamline its operations.

It has been on the defense recently. For months, the United States has been trying to persuade other countries not to allow Huawei equipment into next-generation 5G wireless networks because it claims the gear could be used by Beijing for spying.

Huawei, which strongly denies those accusations, on Monday touted significant strides in its telecom equipment business. As of last month, it had signed 40 commercial contracts for 5G with leading global carriers, and had shipped more than 70,000 5G base stations around the world, it said in a statement.

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