The Chinese $1810 (-2,26 %) reported a nearly 50 percent jump in fourth-quarter sales on Tuesday, beating analysts' estimates and raising its target for electric vehicle deliveries in 2025 to 350,000.
The company reported a 48.8 percent jump in fourth-quarter revenue on Tuesday, which amounted to 109 billion yuan ( $15 .09 billion), beating the average of 17 analyst estimates compiled by LSEG of 103.94 billion yuan.
Adjusted net profit rose 69.4 percent year-on-year to 8.32 billion yuan, above the average analyst estimate of 6.399 billion yuan.
Xiaomi's Hong Kong-listed shares closed up 3.3% on Monday before the results were released.
Xiaomi has surged 284% in the past 12 months as its EV project has boosted investor confidence.
Xiaomi reported 32.1 billion yuan in revenue for its EV business in 2024 and delivered more than 135,000 SU7 sedans. Adjusted net loss related to its EV and other new initiatives reached 6.2 billion yuan.
Source: reuters.com
