Lenovo profit beats expectations, helped by remote working trend

HONG KONG (Reuters) – China’s Lenovo Group, the world’s biggest PC maker, posted a better-than-expected quarterly profit on Tuesday and said it is continuing to benefit from “new normal” remote working after COVID-19.

The Chinese giant said it set new records for group revenue, pre-tax income and net income, and all three key business groups delivered year-on-year growth for the first time in six quarters.

“Last quarter was what I would call a perfect quarter for Lenovo,” Chairman Yang Yuanqing told Reuters in a post-results interview.

“I hope the current quarter could be even better.” he said.

Lenovo reported a 53% jump in net profit for the quarter ended September to $310 million, beating average analyst estimate of $224 million, according to Refinitiv data.Reuters News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.