Lenovo 3Q net profit jumps 11% as shipments rise

SHANGHAI: Chinese personal computer maker Lenovo Group Ltd reported a 11% jump in third-quarter net profit on Thursday, slightly beating analysts’ estimates, due to higher shipments.

Lenovo’s net profit in the quarter ended December rose to US$258 mil (RM1.08 bil), compared with an average US$223 mil estimate of seven analysts, according to Refinitiv data.

Revenue rose to US$14.1 bil from US$14 bil in the same quarter last year, compared to an average US$13.6 bil estimate of 10 analysts. – Feb 20, 2020, Reuters

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