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Xiaomi Second Quarter 2024 Earnings: Revenues Beat Expectations
Xiaomi (HKG:1810) Second Quarter 2024 Results
Key Financial Results
- Revenue: CN¥88.9b (up 32% from 2Q 2023).
- Net income: CN¥5.10b (up 39% from 2Q 2023).
- Profit margin: 5.7% (up from 5.4% in 2Q 2023). The increase in margin was driven by higher revenue.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Xiaomi Revenues Beat Expectations
Revenue exceeded analyst estimates by 2.1%.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Tech industry in Asia.
Performance of the market in Hong Kong.
The company's shares are up 11% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Xiaomi's balance sheet and an in-depth analysis of the company's financial position.
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About SEHK:1810
Xiaomi
An investment holding company, provides hardware and software services in Mainland China and internationally.