Xiaomi Corp Reports 32% Revenue Surge in Q2
Xiaomi Corp’s second-quarter revenue rose by 32% to 88.9 billion yuan, surpassing analyst expectations, fueled by its expanding auto business and robust handset sales.
Bollywood Fever: China’s Xiaomi Corp reported a significant 32% increase in second-quarter revenue on Wednesday, largely driven by new revenue streams from its burgeoning auto business unit and strong handset sales.
For the quarter ending in June, Xiaomi’s revenue reached 88.9 billion yuan ($12.46 billion), surpassing analysts’ expectations of 85.8 billion yuan, according to data from LSEG. The company’s adjusted net income also exceeded forecasts, coming in at 6.18 billion yuan, well above the 4.8 billion yuan estimated by analysts.
Xiaomi’s impressive performance highlights the company’s successful diversification into the auto industry, while continuing to capitalize on its strong presence in the smartphone market.
Also Read other news articles, UK Pay Awards Decline as Wage Growth Slows
Gold Prices Dip Below Record Highs as Investors Await Fed Minutes and Rate-Cut Clarity
