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Lenovo posts forecast-beating first quarter profit
REUTERS
Published : Aug 16, 2018, 7:55 am IST
Updated : Aug 16, 2018, 7:55 am IST
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.
Lenovo's revenue rose 19 percent from a year earlier to USD11.91 billion.
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.
