Xiaomi fourth quarter revenue jumps 27%, beats estimates

SHANGHAI (Reuters) – Xiaomi Corp on Tuesday reported a 27% jump in December-quarter revenue, its fourth consecutive quarter of growth, and above analyst expectations, in spite a weak outlook for the global smartphone sector.

Sales in the fourth quarter jumped to 56.5 billion yuan (about $8.0 billion) from 44.42 bilion yuan in the same quarter a year earlier. This beat analyst expectations of 55.6 billion yuan, according to Refinitiv data.

Source: Read Full Article