Xiaomi Corporation 2018 Reports Strong Operating Results in Second Quarter Revenue Soars 68.3%, Net Profit Reaches RMB14.633 Billion

Xiaomi recently announced its unaudited consolidated results for the second quarter and the first half of 2018 ended June 30, 2018.

In the second quarter of 2018, Xiaomi recorded outstanding operating results, proving the strength and resilience of its unique and powerful “triathlon” business model, which encompasses hardware, new retail and internet services. The Group recorded revenue of approximately RMB45,235.5 million, representing an increase of 68.3% year-on-year, among which international revenue grew 151.7% year-on-year to RMB16,412 million, accounting for 36.3% of its total revenue. Net profit for the second quarter was RMB14,633 million. Adjusted profit (Non-IFRS Measure) increased by 25.1% year-on-year to RMB2,117 million.

1H2018 Financial Highlights

  • Total revenue was RMB79,648 million, an increase of 4% year-on-year
  • Gross profit was RMB9,953 million, an increase of 7% year-on-year
  • Net profit was RMB7,605 million
  • Non-IFRS adjusted profit was RMB3,816 million, an increase of 2% year-on-year
  • Earnings per share were 759

2Q2018 Financial Highlights

  • Total revenue was RMB45,235.5 million, an increase of 3% year-on-year
  • Gross profit was RMB5,652 million, an increase of 9% year-on-year
  • Net profit was RMB14,633 million
  • Non-IFRS adjusted profit was RMB2,117 million, an increase of 1% year-on-year
  • Earnings per share were 409

2Q2018 Results Review 

Rapid growth across all business segments. In the second quarter of 2018, Xiaomi’s smartphones segment recorded revenue of approximately RMB30.50 billion, representing year-on-year growth of 58.7%, which was driven by an increase in both smartphone sales volume and the average selling price (“ASP”). The fastest growth in revenue was seen in the IoT and lifestyle products segment, growing 104.3% year-on-year to RMB10.38 billion. Revenue from the internet services segment grew 63.6% year-on-year to RMB3.96 billion, driven primarily by increasing monetization in mainland China.

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