Xiaomi Full Year 2024 Earnings: Beats Expectations

Xiaomi (HKG:1810) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥365.9b (up 35% from FY 2023).
• Net income: CN¥23.7b (up 35% from FY 2023).
• Profit margin: 6.5% (up from 6.4% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥0.95 (up from CN¥0.70 in FY 2023).

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All figures shown in the chart above are for the trailing 12 month (TTM) period

Xiaomi Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 17%.

The primary driver behind last 12 months revenue was the Smartphones segment contributing a total revenue of CN¥191.8b (52% of total revenue). Notably, cost of sales worth CN¥289.3b amounted to 79% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to CN¥25.1b (47% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥935.8m. Explore how 1810's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Tech industry in Asia.

Performance of the market in Hong Kong.

The company's shares are up 14% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Xiaomi's balance sheet and an in-depth analysis of the company's financial position.

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This article by Simply Wall St is general in nature. We provide commentary 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. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.