November 19, 2018 / 10:29 AM / 6 months ago

REFILE-China's Xiaomi swings to net profit in Q3, beats estimates

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By Josh Horwitz

HONG KONG, Nov 19 (Reuters) - Chinese smartphone maker Xiaomi Inc on Monday said it swung to a net profit in the third quarter, beating analyst estimates, driven by robust sales in India and Europe.

Profit for the three months through September reached 2.48 billion yuan ($357.23 million), versus a 11 billion yuan loss in the same period a year earlier, the company said in a statement.

The result compared with a 1.92 billion yuan average of five analyst estimates compiled by Refinitiv Eikon. ($1 = 6.9424 Chinese yuan renminbi)

Reporting by Josh Horwitz; Editing by Christopher Cushing

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