Η Xiaomi announced its financial results first quarter 2023 today Wednesday, recording one a big increase in the company's profits
According to what the company announced, its net profits increased by 121,3% on a quarterly basis, reaching 4,2 billion Chinese yuan ($596 million), versus a forecast of 2,5 billion yuan.
However, the tech giant's revenue decreased by 9,9% the same period and stood at 59,48 billion yuan ($8,44 billion), versus a forecast of 58,8 billion yuan.
The company said it retained her third position in the global ranking in terms of smartphone shipments, with market share 11,3%, with the number of monthly active users increasing annually by 12,4%, to the new high record of 594,8 million.
He was ranked first in mainland China among Android smartphones, with market share 24,1% marking an annual increase of 7,7 percentage points.
Xiaomi's first-quarter gross profit rose 1,9% to 11,59 billion yuan (1,65 billions of dollars), while operating profit increased by 75,8%, to 5,9 billion yuan (837 million).
Record drop in revenue in Q2022 XNUMX
It was preceded by a record fall in fourth-quarter revenue last year, as the company then grappled with slowing consumption and disruptions from coronavirus restrictions in China.
The sales of Xiaomi in the fourth quarter of 2022 reached 66,05 billion yuan ($9,6 billion), down 22,8% from 85,58 billion yuan a year ago. The net earnings fell to 1,46 billion in the same period, down 67,3% from 4,473 billion yuan a year earlier.
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