Contrary to earlier reports, Chinese networking and telecommunications equipment company Huawei is on pace to exceed its revenue estimates for the year.

An earlier report stating that it was on pace to fall short of sales expectations were based on reports that the company had earned $20 billion revenues for the first half of 2014. That would have put it on pace for $40 billion for the year, compared to their reported forecast of a 10 percent increase in revenue to what had been cited in reports as $41.8 billion.

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However, the company has confirmed that it had in fact taken in $21.85 billion in revenue for the first half of 2014. That would put it on pace to earn sales of $43.7 billion for the year.

The company also said that its 2013 revenue was $39.5 billion, putting its 2014 year-long forecast at $43.45 billion. So Huawei is actually on pace to exceed its expectations by an estimated $250 million.

TagsHuawei, Revenues, 2014 revenues, 2014 sales, revenue forecasts