Chinese technology company Xiaomi reported strong second-quarter earnings for 2025, with net income reaching 11.90 billion yuan ($1.6 billion), surpassing analyst estimates of 8.88 billion yuan. Revenue rose 30.5% year-over-year to 115.96 billion yuan ($16.2 billion), slightly above the estimated 114.94 billion yuan. Operating profit increased 128% year-over-year to 13.44 billion yuan, beating expectations. Adjusted net profit rose 75% to 10.83 billion yuan. The growth was driven by robust sales in smartphones, especially in Southeast Asia, and significant momentum in its electric vehicle (EV) and artificial intelligence of things businesses. Xiaomi delivered 81,302 EVs in the quarter, generating 21.3 billion yuan ($3 billion) in revenue from its auto and AI segment, which saw a 234% surge in revenue year-over-year despite reporting a 300 million yuan operating loss. The EV business is on track to achieve quarterly profitability in the second half of 2025. Meanwhile, U.S. retailer Target reported second-quarter earnings with net sales of $25.21 billion, slightly above estimates, but net income of $935 million missed expectations. Comparable-store sales declined 1.9%. Target announced that CEO Brian Cornell will step down on February 1, 2026, to be succeeded by current Chief Operating Officer Michael Fiddelke. The company still anticipates a low-single-digit sales decline for the full year and projects adjusted earnings per share between $7.00 and $9.00. Additionally, furniture maker La-Z-Boy reported weaker-than-expected first-quarter fiscal 2026 results, with revenue of $492.2 million, down 1% year-over-year, and adjusted earnings per share of $0.47, missing estimates. The company issued a cautious revenue outlook for the second quarter. In other news, Home Depot warned it may raise some prices due to increased tariffs implemented under former President Donald Trump's administration, reversing its earlier stance that it would avoid price hikes. The company cited significantly higher tariff rates on some imported goods compared to the previous quarter.