Investing.com - Xiaomi reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Xiaomi announced earnings per share of ¥0.21 on revenue of ¥60.03B. Analysts polled by Investing.com anticipated EPS of ¥0.1 on revenue of ¥57.27B.
Xiaomi shares are up 77.74% from the beginning of the year and are trading at ¥19.16 , down-from-52-week-high.They are outperforming the EUR/USD which is down 0% from the start of the year.
Xiaomi follows other major Services sector earnings this month
Xiaomi's report follows an earnings beat by Alibaba on Thursday, August 20, 2020, who reported EPS of ¥2.07 on revenue of ¥172.15B, compared to forecasts EPS of ¥1.91 on revenue of ¥163.55B.
Meituan Dianping had beat expectations on Friday with second quarter EPS of ¥0.41 on revenue of ¥27.71B, compared to forecast for EPS of ¥-0.03 on revenue of ¥25.55B.
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