The revenues of the Chinese company Xiaomi increased in the fourth quarter by nearly fifty percent

 

Xiaomi's Chinese revenues increased by about 50 percent in the fourth quarter

The Chinese company Xiaomi's revenues increased in the fourth quarter by nearly fifty percent, exceeding analysts' estimates, according to what the company's business results showed.

The company said in a statement that its revenues rose 48.8 percent to 109 billion yuan ($15.09 billion), exceeding analysts' average estimates of 103.94 billion yuan, according to the London Stock Exchange Group.

Adjusted net profit rose 69.4 percent compared to the same period last year to 8.32 billion yuan, exceeding analysts' average estimate of 6.399 billion yuan.

Xiaomi's shares jumped 284 percent over the past twelve months as its electric car project boosted investor confidence.

Xiaomi announced revenues of 32.1 billion yuan from its electric vehicle business in 2024.