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Lenovo third-quarter profit tops expectations, posting all-time-high revenue and profit

Lenovo third-quarter profit tops expectations, posting all-time-high revenue and profit
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Lenovo third-quarter profit tops expectations, posting all-time-high revenue and profit
China s Lenovo Group, the world s biggest maker of personal computers, posted on Wednesday a bigger-than-expected 53per cent rise in third-quarter profit, helped by robust demand from people working from home as COVID-19 restrictions persisted.
FILE PHOTO: The Lenovo logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/Illustration
03 Feb 2021 12:30PM
(Updated:
03 Feb 2021 01:10PM)
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SHANGHAI: China s Lenovo Group, the world s biggest maker of personal computers, posted on Wednesday a bigger-than-expected 53per cent rise in third-quarter profit, helped by robust demand from people working from home as COVID-19 ....

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China's Lenovo posts record profit in third-quarter, beating expectations

By Reuters Staff
3 Min Read
SHANGHAI (Reuters) - China’s Lenovo Group, the world’s biggest maker of personal computers, posted record profit and revenue in the third quarter on Wednesday, helped by robust demand from people working from home as COVID-19 restrictions persisted.
Net profit jumped by 53% to a record $395 million in the October-December quarter. That beat an average estimate of $293.7 million from eight analysts, according to Refinitiv data.
Revenue also reached $17.25 billion - its highest ever - in the third quarter of the 2021 financial year, up 22% from the second quarter.
“The pandemic is driving people’s new behaviour.We believe even after the pandemic the new normal will continue,” said Yang Yuanqing, chairman of Lenovo, in an interview with Reuters on Wednesday after the results announcement. ....

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Lenovo Q3 profit tops expectations, posting all-time-high revenue and profit

By
Reuters |
February 3rd 2021 at 09:22:18 GMT +0300
The Lenovo logo is seen in this illustration photo January 22, 2018. [Reuters]
China’s Lenovo Group, the world’s biggest maker of personal computers, posted on Wednesday a bigger-than-expected 53 per cent rise in third-quarter profit, helped by robust demand from people working from home as COVID-19 restrictions persisted. Net profit jumped to USD395 million for the October-December quarter. That beat an average estimate of USD293.7 million from eight analysts, according to Refinitiv data. Revenue increased 22 per cent to USD17.25 billion.
“The strong performance has been fueled by Lenovo’s robust growth across business groups as well as structural changes in lifestyle and work habits since the onset of the COVID-19 pandemic,” Lenovo said in a statement. ....

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Dell Inc. (NASDAQ:DELL), Hewlett-Packard Company (NYSE:HPQ) - Lenovo Makes Its Star Market Debut

The COVID-19 pandemic had completely changed the way people work and learn. Operating from home actually turned around declining PC sales. Smartphones have . ....

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