Categories: Feature

China's Lenovo Q3 profit falls 21%, beats estimates on strong revenue​

Published by TSG Syndication

BEIJING, Feb 12 (Reuters) - China's Lenovo Group reported on Thursday a 21% drop in third-quarter profit, but beat analyst expectations as strong revenue growth helped offset margin pressures. Net profit attributable to shareholders fell to $546 million for the three months ended December 31, above the average analyst estimate of $451.29 million, according to LSEG data. Revenue rose 18% year-on-year to $22.2 billion, beating expectations of $20.6 billion, as the world's largest PC maker benefited from artificial intelligence-driven demand. Adjusted net profit, which excludes one-off items and non-cash charges, climbed 36% to $589 million. (Reporting by Che Pan and Brenda Goh; Editing by Muralikumar Anantharaman) (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
TSG Syndication
Published by TSG Syndication