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在线翻译:
szdaily -> Business_Markets -> 
Xiaomi results soothe investors as revenue jumps
    2018-08-24  08:53    Shenzhen Daily

XIAOMI Inc. impressed investors with a surge in quarterly revenue that was driven by robust demand for its cheap smartphones in emerging markets.

Xiaomi, which toppled Samsung Electronics as the top smartphone seller in price-conscious India earlier this year, said Wednesday in its first results as a public company that revenue from overseas markets for the quarter ended June 30 more than doubled from a year ago.

The results are likely to assuage some concerns about Xiaomi’s ability to sustain its scorching pace of revenue growth, after a closely watched but disappointing initial public offering in June valued the company at almost half the US$100 billion that industry analysts had estimated.

“Xiaomi reported solid results, which surprised the market,” Fubon Research analyst Dany Wu said in a broker note.

“The overseas market opportunity is massive, which provides huge growth potential for Xiaomi on both hardware and software. Despite the margin decline, we think this is a compromise for rapid expansion in its overall product lines,” he said.

The company’s gross margins in the second quarter dropped 2 percentage points to 12.5 percent as steady profits at its Internet services business failed to offset declines in its hardware businesses, which includes smartphones and Internet-connected devices such as smart TVs and electric scooters. (SD-Agencies)

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