May 20, 2019 / 10:46 AM / a month ago

Xiaomi posts forecast-beating first-quarter sales

SHANGHAI, May 20 (Reuters) - Chinese smartphone maker Xiaomi Corp posted better than expected quarterly revenue on Monday, citing steady growth in smartphone sales.

Its sales reached 43.8 billion yuan ($6.33 billion) in the first quarter, up from 34.4 billion yuan a year earlier, beating analyst expectations of 42.1 billion yuan.

Adjusted net profit rose to 2.1 billion yuan over the period. ($1 = 6.9150 Chinese yuan renminbi) (Reporting by Josh Horwitz Editing by David Goodman)

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