Investing.com - Xiaomi reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Xiaomi announced earnings per share of -0.02 on revenue of 73.35B. Analysts polled by Investing.com anticipated EPS of 0.13 on revenue of 75.71B.
Xiaomi shares are down 41% from the beginning of the year and are trading at 11.08 , down-from-52-week-high.They are under-performing the Hang Seng which is down 14.01% from the start of the year.
Xiaomi follows other major Information Technology sector earnings this month
Xiaomi's report follows an earnings beat by SMIC on May 11, who reported EPS of 0.06 on revenue of 1.84B, compared to forecasts EPS of 0.0583 on revenue of 1.82B.
ZTE Corp-H had beat expectations on April 25 with first quarter EPS of 0.47 on revenue of 27.93B, compared to forecast for EPS of 0.38 on revenue of 25.68B.
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