Xiaomi reported for the second quarter of 2018, for the first time after the public offering of shares. The Chinese manufacturer managed to surpass the forecasts of analysts. They expected that the revenue of the brand would be 5.5 billion dollars, and in the end, it was at the level of 6.5 billion dollars. As for the net profit, according to forecasts, it should be at the level of 1.7 billion dollars, in fact, the amount is 2.1 billion dollars. Last year, during the same period, the company suffered a loss of $ 1.7 billion.
In the interval from April 1 to June 30 this year, the Chinese manufacturer managed to ship about 32 million smartphones. Thus, 68.3 percent of revenue fell on them. Also, 1,45 billion dollars of revenue was brought by other brand products, which include smartwatches, fitness bracelets, TV sets, tablets, laptops and other home and household appliances. International sales also showed a significant growth, they increased by 151 percent and brought 36 percent of total revenue.
On Wednesday, at the auction in Hong Kong, Xiaomi shares went up by 1.6 percent and now stand at $ 2.27. Recall that now the company Xiaomi is one of the four largest manufacturers of smartphones.
Xiaomi in the second quarter of 2018 received $ 2.14 billion profit
Syed Arslan is a senior review and News writer at 1review2day, focusing on upcoming smart devices. He previously worked for Fortune Magazine, and he has 4 years of experience. He loves testing out new gadgets and complaining about them. He is the ghost of all failed Kickstarters. Email at email@example.com