XIACY - Xiaomi's Q1 Revenue Soars 27% As Global Smartphone Shipments Surge Eyes Ambitious EV Goals | Benzinga
Xiaomi Corp (OTC:XIACY) (OTC:XIACF) reported a 27% increase in revenue for the March quarter to RMB75.51 billion.
The gross profit for the quarter climbed 45.2% to RMB16.82 billion, while the operating profit declined 37.6% to RMB3.7 billion.
In the first quarter of 2024, the company’s global smartphone shipments reached 40.6 million units, up 33.7% year-over-year.
Global monthly active users (MAU) reached 658.1 million in March and the number of connected IoT devices on Xiaomi’s AIoT platform (excluding smartphones, tablets and laptops) increased to 786.1 million, up 27.2% year-over-year.
The company aims to deliver 120,000 of its SU7 electric vehicles this year, raising its target for a ...