Xiaomi reports 68.3% increase in revenue in Q2 2018, smartphone revenue up 58.7% YoY

Xiaomi today reported its earning  for the second quarter (Q2 2018) and first half of 2018 (H1 2018) ended June 30, 2018. It reported revenue of 45.24 billion yuan (US$6.60 billion), an increase of 68.3% year-on-year, among which international revenue grew 151.7% year-on-year to 16.4 billion yuan, accounting for 36.3 percent of total revenue. Operating (loss) was 7.5 million yuan compared to 3.6 million the same quarter last year. Adjusted profit grew 25.1% to 2.1 billion yuan year-on-year. All business segments achieved strong revenue growth, with the fastest growth seen in our IoT and lifestyle products segment, said Xiaomi. Net profit for the second quarter was 14.63 billion yuan, from a loss of 7.03 billion yuan in Q1 2018. Adjusted profit (Non-IFRS Measure) increased by 25.1% year-on-year to 2.1 million yuan. International revenue grew 151.7% year-on-year to 16.4 billion yuan, which accounted for 36.3% of the total revenue Smartphones segment recorded approximately 30.5 billion yuan in revenue for the second quarter of 2018, representing year-on-year growth of 58.7%. Smartphone growth was driven by an increase in both smartphone sales volume and average selling price (ASP). Xiaomi shipped 32 million units, up 43.9% on a year-on-year basis. Xiaomi's smartphone ASP in mainland China increased over 25% ...