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 , still down 55.24% from its 52 week high of 26.05 set on Thursday, August 26, 2021. They are under-performing the Hang Seng which is down 15.49% year to date.
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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