Investing.com - Xiaomi reported on Friday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Xiaomi announced earnings per share of 0.06 on revenue of 70.17B. Analysts polled by Investing.com anticipated EPS of 0.0798 on revenue of 71.5B.
Xiaomi shares are down 38% from the beginning of the year and are trading at 11.66 , down-from-52-week-high.They are under-performing the Hang Seng which is down 15.49% from the start of the year.
Xiaomi follows other major Information Technology sector earnings this month
Xiaomi's report follows an earnings matched by SMIC on Thursday, August 11, 2022, who reported EPS of 0.06 on revenue of 1.9B, compared to forecasts EPS of 0.06 on revenue of 1.89B.
Xinyi Solar had missed expectations on Monday, August 1, 2022 with second quarter EPS of 0.21 on revenue of 9.70B, compared to forecast for EPS of 0.43 on revenue of 10,547M.
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