Xiaomi reports Q4 revenue jump, beats estimates

Xiaomi ended 2019 on a high, reporting a 27.1% year-over-year jump in the fourth-quarter revenue aided by overseas expansion, beating analysts’ estimation. The Chinese giant said sales in the fourth quarter jumped to 56.5 billion yuan ($8 billion), up from 44.42 billion yuan in the same quarter a year before. In the fourth quarter of 2019, Xiaomi’s net profit was RMB2.3 billion ($320 million), up 26.5% YoY.

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