Goldman Sachs expects Xiaomi’s Q2 revenue to drop 5% on year, slightly raised target price 
COMPANY NEWS VIEWS & ANALYSIS
Goldman Sachs expects Xiaomi’s Q2 revenue to drop 5% on year, slightly raised target price 
COMPANY NEWS VIEWS & ANALYSIS

Goldman Sachs expects Xiaomi’s Q2 revenue to drop 5% on year, slightly raised target price 

 

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Chinese smartphone giant Xiaomi is scheduled to announce its Q2 earnings results at the end of August, and Goldman expected its total revenue to drop by 5% year over year to 66 billion yuan, adjusted net profit to reach 3.8 billion yuan, and core adjusted net profit to touch 5.3 billion yuan. 

Goldman maintained its revenue forecasts for 2023-2025 largely unchanged, but raised the forecast of Xiaomi’s overall and core non-IFRS adjusted profit by 15% and 9% respectively.

The bank raised Xiaomi’s target price from HK$14.2 to HK$14.7 and maintained its Neutral rating, reflecting its cautious view on global smartphone demand. It also expected the shipments of Xiaomi to reach 140 million and 152 million this year and next.