HMI - Huami higher despite Q3 earnings miss

November, 23 2020 05:26 AM Huami Corporation American Depositary Shares each representing four Class A

Huami (HMI) reports Q3 revenue growth of 20% to RMB $2.24B, driven primarily by sales through Xiaomi, principally the new Mi Band 5.Total units shipped increased 16.1% Y/Y to 15.9M.Gross margin rate declined 460 bps Y/Y to 20.6%, affected by product mix predominantly driven by lower margins on Xiaomi products.The company experienced a significant rebound and growth of device activations in most of the markets during the quarter vs. June quarter."We continue to manage the business for long-term success," added chief financial officer Leon Deng. "However, we experienced some new products launch plan delays and production delays due to the pandemic, and resurgence of the virus in many key markets tempers our near-term outlook. As a result, we will be exercising control on expenses in the coming quarter by focusing on projects with higher return on investment."For Q4, the company expects net revenue in the range of RMB1.95B-RMB2.15B.Shares up 3.87% premarket.Previously: Huami EPS misses by

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Huami higher despite Q3 earnings miss

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

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