Jon Russel
Xiaomi's net profit for the October to December period amounted to 6.54 billion yuan, which is less than the 9 billion yuan recorded during the same period last year.
The adjusted net profit decreased by 23.7% to 6.35 billion yuan, and the operating profit dropped by 29.9% to 6.23 billion yuan.
Revenue rose by 7.3% to reach a new record of 116.92 billion yuan. According to the report, this figure surpassed the 100 billion yuan threshold for the fifth quarter in a row.
Analysts who were surveyed by LSEG reported an average adjusted profit of RMB 5.7 billion, alongside revenue of RMB 116.2 billion.
Xiaomi's revenue from smartphone sales in the fourth quarter amounted to RMB 44.3 billion, which represents a decrease of 13.6% compared to the previous period. The company delivered 37.7 million smartphones, which represents an 11.6% decrease compared to previous periods.
Revenue in the Internet of Things (IoT) and consumer electronics segment decreased by 20.3% to reach RMB 24.6 billion, whereas revenue from internet services rose by 5.9% to amount to RMB 9.9 billion.
Revenue in the electric vehicle and other advanced technologies segment increased by more than double, reaching over RMB 37.2 billion. Electric vehicle deliveries during the October to December period rose by 2.1 times, reaching a total of 145,115 units.
source: reuters.com
The adjusted net profit decreased by 23.7% to 6.35 billion yuan, and the operating profit dropped by 29.9% to 6.23 billion yuan.
Revenue rose by 7.3% to reach a new record of 116.92 billion yuan. According to the report, this figure surpassed the 100 billion yuan threshold for the fifth quarter in a row.
Analysts who were surveyed by LSEG reported an average adjusted profit of RMB 5.7 billion, alongside revenue of RMB 116.2 billion.
Xiaomi's revenue from smartphone sales in the fourth quarter amounted to RMB 44.3 billion, which represents a decrease of 13.6% compared to the previous period. The company delivered 37.7 million smartphones, which represents an 11.6% decrease compared to previous periods.
Revenue in the Internet of Things (IoT) and consumer electronics segment decreased by 20.3% to reach RMB 24.6 billion, whereas revenue from internet services rose by 5.9% to amount to RMB 9.9 billion.
Revenue in the electric vehicle and other advanced technologies segment increased by more than double, reaching over RMB 37.2 billion. Electric vehicle deliveries during the October to December period rose by 2.1 times, reaching a total of 145,115 units.
source: reuters.com