Xiaomi Reports 27% Rise in Q1 Revenue on Strong Smartphone Sales

Reuters05-23

BEIJING, May 23 (Reuters) - Chinese electronics maker Xiaomi posted a bigger-than-expected 27% rise in first-quarter revenue on Thursday, boosted by strong sales of handsets amid a recovery in the smartphone market.

For the first three months of this year, Xiaomi's revenue was 75.5 billion yuan ($10.42 billion), compared with the 73.3 billion yuan estimated by analysts according to LSEG.

Adjusted net income was 6.49 billion yuan, beating the 4.94 billion yuan estimated by analysts.

The global smartphone market has shown signs of a recovery since late last year after a prolonged period of sluggishness.

Xiaomi's global smartphone shipments rose 33% to 40.7 million units in the first quarter, helping the company capture a 14% market share and placing it in the No. 3 position, according to industry research firm Canalys.

In China, Xiaomi's largest market for its smartphone business, shipments rose 8.6%, according to research firm Counterpoint.

($1 = 7.2437 Chinese yuan)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2437659733?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-23 17:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2437659733","market":"hk","top_or_hot":-1,"title":"Xiaomi Reports 27% Rise in Q1 Revenue on Strong Smartphone Sales","media":"Reuters","content":"<html><head></head><body><p>BEIJING, May 23 (Reuters) - Chinese electronics maker Xiaomi posted a bigger-than-expected 27% rise in first-quarter revenue on Thursday, boosted by strong sales of handsets amid a recovery in the smartphone market.</p><p>For the first three months of this year, Xiaomi&#39;s revenue was 75.5 billion yuan ($10.42 billion), compared with the 73.3 billion yuan estimated by analysts according to LSEG.</p><p>Adjusted net income was 6.49 billion yuan, beating the 4.94 billion yuan estimated by analysts.</p><p>The global smartphone market has shown signs of a recovery since late last year after a prolonged period of sluggishness.</p><p>Xiaomi&#39;s global smartphone shipments rose 33% to 40.7 million units in the first quarter, helping the company capture a 14% market share and placing it in the No. 3 position, according to industry research firm Canalys.</p><p>In China, Xiaomi&#39;s largest market for its smartphone business, shipments rose 8.6%, according to research firm Counterpoint.</p><p>($1 = 7.2437 Chinese yuan)</p><p></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xiaomi Reports 27% Rise in Q1 Revenue on Strong Smartphone Sales</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXiaomi Reports 27% Rise in Q1 Revenue on Strong Smartphone Sales\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-23 17:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, May 23 (Reuters) - Chinese electronics maker Xiaomi posted a bigger-than-expected 27% rise in first-quarter revenue on Thursday, boosted by strong sales of handsets amid a recovery in the ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XIACY","symbol_name":"小米集团ADR","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2437659733","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437659733","pubTimestamp":1716458344,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"By Liam Mo and Casey Hall      BEIJING, May 23  - Chinese electronics maker Xiaomi    posted a bigger-than-expected 27% rise in first-quarter revenue on Thursday, boosted by strong sales of handsets amid a recovery in the smartphone market.   For the first three months of this year, Xiaomi's revenue was 75.5 billion yuan , compared with the 73.3 billion yuan estimated by analysts according to LSEG.   Adjusted net income was 6.49 billion yuan, beating the 4.94 billion yuan estimated by analysts.   The global smartphone market has shown signs of a recovery since late last year after a prolonged period of sluggishness.   Xiaomi's global smartphone shipments rose 33% to 40.7 million units in the first quarter, helping the company capture a 14% market share and placing it in the No. 3 position, according to industry research firm Canalys.   In China, Xiaomi's largest market for its smartphone business, shipments rose 8.6%, according to research firm Counterpoint. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"XIACY":"小米集团ADR","01810":"小米集团-W"},"translate_title":"小米报告称，由于智能手机销售强劲，Q1收入增长27%","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XIACY":1.1,"01810":0.9},"content_text":"BEIJING, May 23 (Reuters) - Chinese electronics maker Xiaomi posted a bigger-than-expected 27% rise in first-quarter revenue on Thursday, boosted by strong sales of handsets amid a recovery in the smartphone market.For the first three months of this year, Xiaomi's revenue was 75.5 billion yuan ($10.42 billion), compared with the 73.3 billion yuan estimated by analysts according to LSEG.Adjusted net income was 6.49 billion yuan, beating the 4.94 billion yuan estimated by analysts.The global smartphone market has shown signs of a recovery since late last year after a prolonged period of sluggishness.Xiaomi's global smartphone shipments rose 33% to 40.7 million units in the first quarter, helping the company capture a 14% market share and placing it in the No. 3 position, according to industry research firm Canalys.In China, Xiaomi's largest market for its smartphone business, shipments rose 8.6%, according to research firm Counterpoint.($1 = 7.2437 Chinese yuan)","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":5,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2437659733"}