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Xiaomi, a Chinese corporation specializing in the production of various types of electronics, received a net profit of 2 billion 480 million yuan in the third quarter against a loss of 11 billion yuan in the same period last year, amid rising sales in India and Europe. Experts also predicted a profit, but in a smaller amount, of 1 billion 920 million yuan. Revenue amounted to 50 billion 850 million yuan, an increase of 49.1%. At the same time, the company recorded a decline in operating profit by 38.4% to 3 billion 590 million yuan. Proceeds from the production of smartphones grew by 36.1%. Internet services showed revenue growth of 85.5%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
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