BEIJING, March 24 (Reuters) - China's Xiaomi Corp 1810.HK reported a 23.7% drop in fourth-quarter profit on Tuesday as the company continued to invest heavily in its electric vehicle business.
Adjusted net profit for the quarter ended December 31 fell to 6.3 billion yuan ($914.45 million), compared with the average analyst estimate of 5.7 billion yuan, according to LSEG data.
Xiaomi, which also makes smartphones and home appliances, said fourth-quarter revenue came in at 116.9 billion yuan. That was slightly above the average estimate of 116.2 billion yuan.
($1 = 6.8894 Chinese yuan renminbi)
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