Xiaomi shares hit record high after strong Q4 earnings beat

Investing.com-- Xiaomi (OTC:XIACF) Corp (HK:1810) shares rose to a record high on Wednesday, following the release of robust fourth-quarter earnings that surpassed analyst expectations.

The company’s revenue for the quarter soared 48.8% year-on-year to 109 billion yuan ($15.1 billion), exceeding the projected 103.94 billion yuan.

Adjusted net profit also saw a significant increase, rising 69.4% to 8.32 billion yuan,  Xiaomi reported on Tuesday.

This performance was attributed to strong global smartphone shipments, which grew by 5% to 42.7 million units, solidifying Xiaomi’s position as the world’s third-largest smartphone manufacturer.

In its domestic market, China, shipments surged by 29% to 12.2 million units.

Xiaomi’s Hong Kong-listed shares rose as much as 1.9% to their record high of HK$58.75. The stock was trading 0.7% higher at HK$58.05 as of 02:44 GMT.

It closed 3.3% higher on Tuesday before the earnings release.

In addition to its smartphone business, Xiaomi’s electric vehicle (EV) segment also showed remarkable growth.

The company reported EV revenue of 32.1 billion yuan in 2024, delivering over 135,000 SU7 sedans. Consequently, Xiaomi has raised its 2025 EV delivery target from 300,000 to 350,000 units.

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