Xiaomi today reported its earning for the second quarter (Q2 2018) and first half of 2018 (H1 2018) ended June 30, 2018. It reported revenue of 45.24 billion yuan (US$6.60 billion), an increase of 68.3% year-on-year, among which international revenue grew 151.7% year-on-year to 16.4 billion yuan, accounting for 36.3 percent of total revenue. Operating (loss) was 7.5 million yuan compared to 3.6 million the same quarter last year. Adjusted profit grew 25.1% to 2.1 billion yuan year-on-year. All business
segments achieved strong revenue growth, with the fastest growth seen in our IoT and lifestyle products segment, said Xiaomi.
Net profit for the second quarter was 14.63 billion yuan, from a loss of 7.03 billion yuan in Q1 2018. Adjusted profit (Non-IFRS Measure) increased by 25.1% year-on-year to 2.1 million yuan.
- International revenue grew 151.7% year-on-year to 16.4 billion yuan, which accounted for 36.3% of the total revenue
- Smartphones segment recorded approximately 30.5 billion yuan in revenue for the second quarter of 2018, representing year-on-year growth of 58.7%.
- Smartphone growth was driven by an increase in both smartphone sales volume and average selling price (ASP).
- Xiaomi shipped 32 million units, up 43.9% on a year-on-year basis.
- Xiaomi’s smartphone ASP in mainland China increased over 25% year-on-year in the second quarter of 2018.
- Mi 8 series, which has an average ASP above 2,000 yuan, sold over 1.1 million units in the first month of sales.
- IoT and lifestyle products segment grew 104.3% year-on-year in revenue to 10.4 billion yuan in the quarter
- Global sales volume of our smart TVs grew over 350% year-on-year in Q2 2018.
- As of the end of the second quarter of 2018, there about 115 million connected Xiaomi IoT devices, excluding smartphones and laptops, representing 15% quarter-on-quarter growth.
- There are close to 1.7 million users who own more than five Xiaomi IoT devices, excluding smartphones and laptops, representing 19% quarter-on-quarter growth.
- Revenue from internet services segment grew 63.6% year-on-year to 4.0 billion yuan, driven primarily by increasing monetization in mainland
China. - Advertising revenue grew 69.6% year-on-year to 2.5 billion yuan driven by continued optimization of its recommendation algorithm and increased advertising spending from the customers.
- Revenue from internet value-added services grew 54.1% year-on-year to 1.5 billion yuan. Within internet value-added services, revenue from gaming accounted for 703.9 million yuan, growing 25.5% year-on-year.
- Monthly active users (MAU) of MIUI increased 41.7% from 146.0 million in June 2017 to 206.9 million in June 2018, driven by increasing smartphone sales volume and user adoption.
- Average revenue per user (ARPU) this quarter increased 15.4% year-on-year to 19.1 yuan
- As of July 2018, AI assistant MAU exceeded 30 million. AI speaker has
accumulated over 2 billion activations within the first year of its launch