Xiaomi reported a stronger-than-expected set of results. 3Q18 revenue was Rmb 50.8bn, vs consensus of 50.4bn, +49% yoy and +12% qoq. Non-IFRS net profit was Rmb 2.9bn vs consensus of Rmb 2.0bn, +17% yoy with non-IFRS net margin expanding to 5.7% from 4.8% in 1H18
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