Xiaomi Shares Jump on Solid Q2 Results and Memory-Cost Reassurances
Xiaomi's stock climbed 5.6% to HK$27.64 after the company reported stronger-than-expected second-quarter results and offered guidance that high memory prices are moving toward a slower rate of increase. Revenue rose to RMB 108.9 billion and adjusted net profit advanced to RMB 6.2 billion sequentially. The smartphone business delivered record averag…