FIT - Fitbit's Chinese Rival Posts Another Quarter of Robust Growth
Huami's (NYSE: HMI) stock recently rallied after the Chinese wearables maker posted its fourth-quarter numbers. Its revenue surged 72% annually to 2.11 billion yuan ($303.3 million). Its adjusted net income rose 46% to 213.8 milion yuan ($30.7 million), or 3.31 yuan ($0.48) per ADS.
Those robust growth rates suggest that Huami, which produces Xiaomi's (OTC: XIACF) wearables, Timex's smartwatches, and its own Amazfit devices, is a much stronger company than Fitbit (NYSE: FIT), which posted a 12% revenue decline and a net loss last quarter as it waited for Alphabet's Google to close its $2.1 billion takeover.
Image source: Xiaomi.