Chinese smartphone maker Xiaomi Corp reported a 9.7% fall in third-quarter revenue
11/23/2022
SHANGHAI, Nov 23 (Reuters) – Chinese smartphone maker Xiaomi Corp (1810.HK) on Wednesday reported a 9.7% fall in third-quarter revenue, hit by China’s COVID-19 restrictions and softening consumer demand.
Sales in the third quarter reached 70.17 billion yuan ($9.81 billion), down from 78.063 billion yuan the same quarter a year ago, slightly missing analyst expectations of 70.52 billion yuan.
Net income fell 59.1% to 2.12 billion over the period from 5.176 billion yuan one year ago.
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