Lenovo Group 3rd-Quarter Net Profit Rises 18.6%, Beating Forecasts
February 03 2016 - 12:28AM
Dow Jones News
By Eva Dou
BEIJING--Lenovo Group Ltd. (0992.HK), the world's largest
personal-computer maker, said Wednesday its net profit for its
fiscal third quarter rose 18.6% from a year ago, beating analyst
expectations.
The Chinese consumer electronics major said its net profit for
quarter ended December was $300 million, compared with a net profit
of $253 million a year earlier.
The result came in above the $226.3 million average estimate of
19 analysts surveyed earlier by Thomson One Analytics.
Revenue fell 8.5% to $12.9 billion from $14.1 billion a year
earlier.
Lenovo had posted its first quarterly loss in more than six
years in its fiscal second quarter on write-downs as it grappled
with the integration of two U.S. acquisitions and a slowdown in
growth for PCs and smartphones.
Write to Eva Dou at eva.dou@wsj.com
(END) Dow Jones Newswires
February 03, 2016 00:13 ET (05:13 GMT)
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