Financial news
Written by: Jiajun Qu
2019-11-27 18:29
Last updated: 2019-11-27 18:30Xiaomi (1810) announced the third quarter results for the end of September, and the profit attributable to owners rose 1% year-on-year to 2.525 billion yuan (the same applies hereinafter).
During the period, adjusted net profit rose 20.3% year-on-year to 3.472 billion yuan, beating market expectations. Revenue rose 5.5% year-on-year to 53.661 billion yuan, in line with market expectations.
In the third quarter, smartphone revenue was 32.268 billion yuan, a year-on-year decrease of 7.8%. Gross profit margin increased from 8.1% in the second quarter to 9% in the third quarter. The average selling price of mobile phones in the Mainland increased by 4.6% year-on-year; while the overseas sales dropped by 4.1% year-on-year.
During the period, IoT and consumer products revenue was 15.6 billion yuan, an increase of 44.4% year-on-year. Global shipments of smart TVs totaled 3.1 million units, an increase of 59.8% year-on-year.
As of the end of September, the number of IoT devices (excluding mobile phones and laptops) connected to the IoT platform reached 213.2 million, an increase of 62% year-on-year. The number of monthly active users of "Little Love Classmates" reached 57.9 million in September this year, an increase of 68.6% year-on-year.
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