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Home / Business News / Chinese smartphone maker Xiaomi reports 13.6% rise in Q1 revenue

Chinese smartphone maker Xiaomi reports 13.6% rise in Q1 revenue

Sales in the first quarter of 2020 rose to 49.7 billion yuan ($7.00 billion) from 43.76 billion yuan in the same period prior year, beating analyst expectations of 47.86 billion yuan.

business Updated: May 20, 2020 15:54 IST
Reuters | Posted by Harshita Singh
Reuters | Posted by Harshita Singh
Shanghai
FILE: The logo of Xiaomi is seen outside the brand's store in central Kiev, Ukraine August 7, 2018.
FILE: The logo of Xiaomi is seen outside the brand's store in central Kiev, Ukraine August 7, 2018.(REUTERS)

Xiaomi Corp reported a 13.6% rise in first-quarter revenue on Wednesday, beating estimates even as demand for its smartphones plunged amid the coronavirus pandemic that has also rattled supply chains in China.

Sales in the first quarter of 2020 rose to 49.7 billion yuan ($7.00 billion) from 43.76 billion yuan in the same period prior year, beating analyst expectations of 47.86 billion yuan. Profit for the first quarter fell 32.3% to 2.16 billion yuan.

Adjusted net profit of 2.3 billion yuan beat the market estimate of 2.12 billion yuan.

ht epaper

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