Xiaomi's second-quarter revenue up 30.5%, boosted by EV orders

China's Xiaomi reported a 30.5% jump in second-quarter revenue on Tuesday, helped by strong orders for its new YU7 electric SUV.

Revenue for the quarter ended June 30 was 116 billion yuan ($16.16 billion), beating the 114.7 billion yuan average of 15 analyst estimates compiled by LSEG.

Adjusted net profit rose 75.4% year-on-year to 10.8 billion yuan, exceeding the average estimate of 10.1 billion yuan, according to LSEG data.

Hong Kong-listed shares in Xiaomi, which also makes smartphones and home appliances, closed down 1.2% at 52.4 Hong Kong dollars. The stock has risen 52% so far this year.

($1 = 7.1798 Chinese yuan renminbi) (Reporting by Che Pan and Brenda Goh. Editing by Kate Mayberry and Mark Potter)