Xiaomi posts forecast-beating first-quarter sales

FILE PHOTO: The logo of Xiaomi is seen within the company and office in Bangalore, India, on January 18, 2018. REUTERS/Abhishek N. Chinnappa/File Photo GLOBAL BUSINESS WEEK AHEAD

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

The sale 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.

The adjusted net profit rose to 2.1 billion yuan over the period.

Reporting by Josh Horwitz; Editing by David Goodman

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