May. 27 at 10:00 AM
$XIACY BEIJING (Reuters) -China's Xiaomi reported a 47.4% jump in first-quarter revenue on Tuesday as the company doubled down on making electric vehicles.
Revenue for the quarter ended March 31 was 111.3 billion yuan (
$15.48 billion), beating the 107.6 billion yuan average of 17 analyst estimates compiled by LSEG.
Adjusted net profit jumped 64.5% year-on-year to 10.7 billion yuan, ahead of the average estimate of 8.96 billion yuan, according to LSEG data.
Boom! 💥