Lenovo posts forecast-beating first quarter profit
Net profit came in at USD 77 million for the three months ended in June, compared with a loss of USD 72.3 million in the same period a year.
By : DC Correspondent
Update: 2018-08-16 02:25 GMT
Chinese PC maker Lenovo Group swung to a profit and beat estimates in the first quarter on Thursday, helped by a sharp jump in revenue.
Net profit came in at USD 77 million for the three months ended in June, compared with a loss of USD 72.3 million in the same period a year.
That was ahead of an average estimate of USD 59.37 million from six analysts polled by Thomson Reuters.
Revenue rose 19 per cent from a year earlier to USD 11.91 billion, compared with an average analyst estimate of USD 11.26 billion.