HMI - Huami falls on Q2 revenue miss in-line Q3 guidance

August, 18 2020 09:25 AM Huami Corporation American Depositary Shares each representing four Class A

Huami (NYSE:HMI) reports Q2 results that misses on revenue estimates.
Q2 highlights: Revenue rose 9.5% y/y to RMB1.14B.
Gross margin were 22.3%, compared with 26.7% year-ago.
Operating income was down 90% y/y to RMB9.4M, driven primarily by the y/y increases of 76.6% in sales & marketing expense and 25.0% in R&D expense.
At June 30, 2020, HMI had cash and cash equivalents of RMB2.65B (about $375.0M).
HMI sees Q3 revenues in the range of RMB2.1-RMB2.15B vs. RMB2.1B consensus.
Shares -9% premarket.
Previously: Huami EPS in-line, misses on revenue (Aug. 18)
More news on: Huami Corporation, Tech stocks news, Earnings news and commentary, Stocks on the move,

Company Name:	Huami Corporation American Depositary Shares each representing four Class A
Stock Symbol:	HMI
Market:	NYSE