TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Instagram Outage Disrupts Thousands of U.S. Users 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Xiaomi's second-quarter revenue surpassed expectations, with its automotive unit, led by SU7 sales, making a significant impact for the first time.
Xiaomi's Q2 Revenue Beats Estimates
Xiaomi Corp. of China announced on Wednesday better-than-expected quarterly sales of 6.2 billion yuan ($869.2 million), the first time the company had disclosed the contribution of its automotive business unit.
According to LSEG (via Reuters), Xiaomi's revenue for the three months ending in June was 88.9 billion yuan, a 32% increase, above the 85.8 billion yuan predicted by analysts.
In 2021, the firm initially declared its intention to diversify from its primary smartphone operations by entering the electric vehicle market.
27,307 SU7 EVs Delivered in Q2
After declaring that it would price its SU7 models competitively against Tesla's offerings, Xiaomi began distributing its SU7 electric vehicles in early April.
It made 6.2 billion yuan in revenue during the second quarter from the delivery of 27,307 EVs. Details of its automotive business segment are included in this financial report for the first time.
Lu Weibing, president of Xiaomi, expressed his "confident" belief that the business will achieve its goal of delivering 120,000 electric vehicles by the end of the year in a media teleconference that followed the results announcement.
With the goal of consistently exceeding 10,000 units each month, Xiaomi has been using double-shift methods since June.
Xiaomi's Auto Unit Loss Narrows as Sales Increase
The automotive division of Xiaomi is still losing money. Despite a 15.4% gross profit margin, the division posted a quarterly loss of 1.8 billion yuan after adjustments. Lu stated that the unit's profitability is anticipated to rise with the increase in deliveries.
Per MSN, following a protracted slump, the worldwide smartphone market began to show indications of recovery towards the end of last year.
IDC, an industry research agency, reports that in the second quarter, Xiaomi's worldwide smartphone shipments increased by 27.4 percent to 42.3 million devices, giving the company a 14.8 percent market share and putting it in third place.
Specifically, IDC reports a 16.5% increase in shipments in China, the company's most lucrative smartphone market.
Despite experts' expectations of 4.8 billion yuan, adjusted net income came in at 6.18 billion yuan.
