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Xiaomi fourth quarter revenue jumps 27%, beats estimates – Source Reuters Tech News

A man uses his smartphone next to the Xiaomi brand’s store in central Kiev, Ukraine February 11, 2020. REUTERS/Valentyn Ogirenko

SHANGHAI (Reuters) – Xiaomi Corp on Tuesday reported a 27% jump in December-quarter revenue, its fourth consecutive quarter of growth, and above analyst expectations, in spite a weak outlook for the global smartphone sector.

Sales in the fourth quarter jumped to 56.5 billion yuan (about $8.0 billion) from 44.42 bilion yuan in the same quarter a year earlier. This beat analyst expectations of 55.6 billion yuan, according to Refinitiv data.

Reporting by Josh Horwitz, editing by Louise Heavens

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