Xiaomi Q2 revenue jumps 32% on auto business, smartphone sales

BEIJING (Reuters) – China’s Xiaomi Corp posted a 32% rise in second-quarter revenue on Wednesday, driven by new revenue streams from its auto business unit and boosted by strong sales of handsets.

For the three months ending in June, Xiaomi’s revenue was 88.9 billion yuan ($12.46 billion), beating the 85.8 billion yuan estimated by analysts according to LSEG.

Adjusted net income was 6.18 billion yuan, above the 4.8 billion yuan estimated by analysts.

($1 = 7.1332 Chinese yuan renminbi)

(Reporting by Liam Mo and Casey Hall, Editing by Louise Heavens)