Economic Update: Xiaomi’s Impressive Q4 Results
Xiaomi Corporation has reported a remarkable revenue increase for the fourth quarter, soaring nearly fifty percent and surpassing analyst expectations. According to the company’s latest financial results, revenues climbed by 48.8% to reach 109 billion yuan (approximately $15.09 billion), exceeding the consensus estimate of 103.94 billion yuan.
In terms of profitability, the company’s average net profit surged by 69.4% year-on-year, hitting 8.32 billion yuan, which also outperformed analysts’ projections of 6.399 billion yuan.
Over the past twelve months, Xiaomi’s shares have experienced a substantial increase of 284%, buoyed by the company’s strategic investments in its electric vehicles initiative.
For 2024, Xiaomi confirmed anticipated revenues of 32.1 billion yuan from its electric vehicle operations, indicating a robust commitment to expanding this burgeoning sector.
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