Xiaomi Corp Class B
01810: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$69.70 | Pcvwv | Mnwllgvb |
Xiaomi Earnings: Margin Improvement Drives Profit Upside Surprise; Valuation Increased
The highlight of Xiaomi’s second-quarter 2023 result was a record gross profit margin and large underlying operating cost reductions which more than offset continued revenue weakness in the smartphone market. Second-quarter gross profit margin of 21% was up 420 basis points year on year and 150 basis points sequentially.