A man uses his smartphone next to the Xiaomi brand’s store in central Kiev, Ukraine February 11, 2020. REUTERS/Valentyn Ogirenko
SHANGHAI (Reuters) – Xiaomi Corp on Tuesday reported a 27% jump in December-quarter revenue, its fourth consecutive quarter of growth, and above analyst expectations, in spite a weak outlook for the global smartphone sector.
Sales in the fourth quarter jumped to 56.5 billion yuan (about $8.0 billion) from 44.42 bilion yuan in the same quarter a year earlier. This beat analyst expectations of 55.6 billion yuan, according to Refinitiv data.
Reporting by Josh Horwitz, editing by Louise Heavens