Mar 19 2024: Chinese tech giant Xiaomi (OTC: XIACF) reported a 10.9% growth in fourth-quarter revenue on Tuesday, driven by strong smartphone sales in a recovering industry.
In the October-December period, revenue reached 73.24 billion yuan ($10.17 billion), exceeding the 73.17 billion yuan average forecasted by 15 analysts surveyed by LSEG.
Adjusted net profit surged by 236.1% compared to the same period last year, reaching 4.9 billion yuan, which surpassed the average analyst estimate of 3.89 billion yuan.
(Note: The conversion rate of $1 = 7.1994 Chinese yuan renminbi is included for context.)
