Xiaomi Group released its first quarter earnings report for 2019 on the 20th, with total revenue of 43.8 billion yuan, up 27.2% year-on-year; adjusted profit of 2.1 billion yuan, up 22.4% year-on-year. This is the first financial report disclosed by Xiaomi after launching the “Mobile + AIOT” dual-engine strategy.
During the reporting period, Xiaomi's smartphone revenue was 27 billion yuan, a year-on-year increase of 16.2%, and global sales reached 27.9 million units. The revenue of Xiaomi IoT and consumer goods reached 12 billion yuan, a year-on-year increase of 56.5%. Xiaomi’s Internet-related revenue reached 4.3 billion yuan, a year-on-year increase of 31.8%.
The number of connected IoT devices on the Xiaomi IoT platform reached 171 million units (excluding smartphones and laptops), an increase of 70% year-on-year. The artificial intelligence assistant Xiaoai students had more than 45.5 million monthly active users in March 2019, an increase of 247.2% year-on-year. . Xiaomi MIUI monthly active users achieved rapid growth, from 190 million in March 2018 to 261 million in March 2019, an increase of 37.3%.
In addition to hardware, Xiaomi's Internet segment revenue in the first quarter of 2019 reached RMB 4.3 billion, a year-on-year increase of 31.8%. Among them, advertising business revenue reached RMB 2.3 billion, a year-on-year increase of 21.8%. Game revenue reached RMB 820 million, a year-on-year increase of 6.8%.
From a regional perspective, international revenues in the first quarter of 2019 were RMB 16.8 billion, a year-on-year increase of 34.7%. As of March 31, 2019, there were 480 overseas Xiaomi home authorized stores, an increase of 93.5% year-on-year, of which 79 were in India. Xiaomi said that in the future, it will continue to build and expand new retail networks in overseas markets.
Lei Jun said that Xiaomi immediately started the second phase of Xiaomi's entrepreneurship after the IPO, and carried out a series of major upgrades and adjustments in the company's core strategy, organizational management structure, technology research and development system, product brand system, etc., for Xiaomi next 5 to 10 The development of the year lays the foundation.