Lenovo reported a net profit of $110.49 million for its quarter ending in June, which is an increase over its profit of $66.84 million reported for the same period last year.
As a result, Lenovo’s shares rose nearly 4 percent after its profit rise of 65 percent. Lenovo Group Ltd. is China’s largest manufacturer of personal computers and the world’s four-largest PC manufacturer.
Lenovo beat the forecasts of four analysts that predicted profit of $107.47 million. Lenovo's competition includes Hewlett-Packard, Dell and Acer. Analysts indicated that Lenovo should do better than its rivals because of its huge market share in China.
Published in News
Lenovo posts 65 percent net profit increase
Shares rise 4 percent