Xiaomi reports a 22% jump in Q3 revenue

(Refiles to correct date in dateline. No changes to ​text.)

By Che Pan and ‌Brenda Goh

BEIJING (Reuters) -China’s Xiaomi ‌reported a 22.3% jump in third quarter revenue on Tuesday as the world’s third-largest smartphone maker doubled down ⁠on its shift ‌into electric vehicles.

Revenue for the quarter ended September 30 was 113.‍1 billion yuan ($15.90 billion), below the 116.5 billion yuan average of ​analyst estimates compiled by LSEG.

Adjusted ‌net profit rose 80.9% year-on-year to 11.3 billion yuan, exceeding the average estimate of 10.3 billion yuan, according to LSEG data.

Hong ⁠Kong-listed shares in ​Xiaomi, which also makes ​smartphones and home appliances, closed down 2.81% at 41 ‍Hong Kong ⁠dollars. The stock has risen 18.2% so far this year.

(⁠$1 = 7.1115 Chinese yuan renminbi)

(Reporting by ‌Che Pan and Brenda Goh; ‌Editing by Kate Mayberry)