Top Tech: Xiaomi Stays in the Black
Chinese smartphone-maker Xiaomi Corp. reported Monday that its third-quarter profit reached 2.49 billion yuan ($358.9 million), after losing about four times that amount in the same quarter a year earlier, while revenue grew 49% to 50.8 billion yuan.
Its profit was down from 14.6 billion yuan in the second quarter.
Revenue from its key smartphone business contributed nearly 70%, approaching 35 billion yuan, up by 36.1% in the third quarter.
The brand, which until recently was primarily a manufacturer of more-affordable handsets, has strengthened its presence in the mid- to high-end segment of the smartphone market. It has also been expanding into Europe and other parts of Asia.
Shares of Hong Kong-listed Xiaomi closed up 5.1% to HK$13.6 ($1.74) on Monday before the financial results were released. The stock has traded below its initial public offering price of HK$17 since late August.
The following is an updated table of Chinese technology company earnings between July and September, starting with the most recent to report.
Aug 11 17:16
Aug 11 17:14
Aug 11 16:53
Aug 11 13:02
Aug 10 21:04
Aug 10 18:22
Aug 10 18:12
Aug 10 17:27
Aug 10 14:42
Aug 10 14:14
Aug 10 13:54
Aug 10 13:41
Aug 07 16:15
Aug 07 15:42
Aug 07 04:24
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