Xiaomi posts $2.1 bn profit in first quarter as public firm
Chinese smartphone giant Xiaomi on Tuesday posted a profit of $2.1 billion in its first quarterly earnings report since going public last month. The company's revenue climbed 68% in the June quarter to $6.6 billion. Xiaomi, which raised $5.4 billion in its initial public offering, shipped 32 million smartphones during the quarter, up 44% from a year ago.