- 2Q Revenue: Xiaomi reported a revenue of 88.89 billion yuan, beating the estimated 86.85 billion yuan.
- 2Q Smartphone Revenue: The smartphone revenue was 46.52 billion yuan, slightly above the estimated 46.27 billion yuan.
- 2Q IoT and Lifestyle Products Revenue: Revenue from IoT and lifestyle products was 26.76 billion yuan, higher than the estimate of 25.44 billion yuan.
- 2Q Operating Profit: Operating profit reached 5.89 billion yuan, significantly surpassing the estimate of 4.1 billion yuan.
- 2Q Net Income: Net income stood at 5.10 billion yuan, exceeding the estimated 3.84 billion yuan.
- 2Q Adjusted Net Income: The adjusted net income was 6.18 billion yuan, above the estimate of 4.85 billion yuan.
- 2Q Gross Margin: The gross margin was 20.7%, higher than the estimated 19.6%.
- Smartphone Average Selling Price: The average selling price of smartphones was 1,104 yuan, slightly below the estimated 1,110 yuan.
- First Half Net Income: For the first half of the year, net income was 9.28 billion yuan.
- Analyst Recommendations: There are 33 buy recommendations, 5 hold recommendations, and 1 sell recommendation for Xiaomi.
Xiaomi Corp on Smartkarma
Analyst coverage of Xiaomi Corp on Smartkarma reveals positive sentiments from top independent analysts. Devi Subhakesan‘s report highlights Xiaomi’s strong comeback in 2Q24 in both China and India, with a 17% year-on-year increase in sales in China. Ming Lu‘s insights emphasize Xiaomi’s global market share growth to 15% in 2Q24 and a 29% year-on-year increase in shipments, positioning Xiaomi as the clear gainer in market share among the global top five players.
Focusing on India, Devi Subhakesan points out Xiaomi’s resurgence in the Indian smartphone market, reclaiming the top spot in Q2 2024, while Samsung slipped to third place. Leonard Law, CFA, provides a broader analysis in his report, Morning Views Asia, discussing Xiaomi Corp‘s position alongside SM Investments. Overall, the reports align in painting a bullish outlook for Xiaomi Corp, with expectations of continued growth and a potential 35% upside by the end of 2024.
A look at Xiaomi Corp Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 3 | |
Dividend | 1 | |
Growth | 3 | |
Resilience | 5 | |
Momentum | 5 | |
OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have defined Xiaomi Corp‘s long-term outlook using the Smart Scores system. The company’s Value score hints at a moderate rating, suggesting a fair valuation in the market. However, their Dividend score is on the lower side, indicating that Xiaomi Corp may not be prioritizing dividend payments to shareholders. In terms of Growth, the company has received a reasonable score, reflecting a positive outlook for expansion and development. Xiaomi’s high scores in Resilience and Momentum stand out, signifying a strong ability to weather market fluctuations and maintain upward momentum.
Xiaomi Corporation, known for manufacturing communication equipment and parts, excels in producing and selling mobile phones, smart phone software, set-top boxes, and related accessories. With a global market presence, Xiaomi’s overall Smart Scores paint a picture of a company with promising growth potential and strong resilience to market challenges, underlining a positive long-term outlook for investors considering their strategy.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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