Xiaomi reports 47% revenue growth as its launches new electric SUV
BEIJING, May 27 (Reuters) - China's Xiaomi (1810.HK), opens new tab 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.
($1 = 7.1920 Chinese yuan renminbi)
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