Xiaomi reports 48% rise in fourth-quarter revenue

By Che Pan and Brenda Goh

BEIJING (Reuters) – China’s Xiaomi reported a 48.8% rise in fourth-quarter revenue on Tuesday, boosted by strong electric vehicle and smartphone sales.

Revenue totalled 109 billion yuan ($15.09 billion) in the October-December period, versus the 103.94 billion yuan average of 17 analyst estimates compiled by LSEG.

Adjusted net profit rose 69.4% from the same period a year earlier to 8.32 billion yuan, compared with the 6.399 billion yuan average analyst estimate.

($1 = 7.2240 Chinese yuan renminbi)

(Reporting by Che Pan and Brenda Goh)