How Did They Double Their Profits?

Xiaomi Corporation reported stellar financial results for the first quarter of 2024, exceeding market expectations and demonstrating robust growth across its core business segments. Xiaomi Soars in Q1 2024: Record Profits, Strong Growth Across Sectors Profit Surge and Revenue Growth The company achieved a significant milestone, with adjusted net profit soaring by 100.8% year-over-year (YoY) to reach a record-breaking RMB 6.5 billion. This impressive performance builds upon Xiaomi's success in the previous quarter, solidifying a trend of consistent profitability. Furthermore, total revenue climbed by 27% YoY to RMB 75.5 billion, marking the second consecutive quarter of double-digit revenue growth. Strong…