Xiaomi's first results after IPO soothe investors as revenue jumps
Updated : August 23, 2018 11:04 AM IST
China's Xiaomi Inc impressed investors with a surge in quarterly revenue that was driven by robust demand for its cheap smartphones in emerging markets, sending the company's shares as much as 7.2 percent higher on Thursday.
Xiaomi, which toppled Samsung Electronics as the top smartphone seller in price-conscious India earlier this year, said on Wednesday in its first results as a public company that revenue from overseas markets for the quarter ended June 30 more than doubled from the year-ago period.
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