Lenovo Group Profit Beats Expectations
03 February 2016 - 7:40PM
Dow Jones News
BEIJING—Lenovo Group Ltd., the world's largest personal-computer
maker, said its net profit for its fiscal third quarter rose 18.6%
from a year earlier, beating analyst expectations.
The Chinese consumer electronics company said net profit for
quarter ended in December rose to $300 million from $253 million a
year earlier.
The result came in above the $226.3 million average estimate of
19 analysts surveyed by Thomson One Analytics.
Revenue fell 8.5% to $12.9 billion from $14.1 billion.
Lenovo posted its first quarterly loss in more than six years in
its fiscal second quarter on write-downs as it grappled with the
integration of two U.S. acquisitions and a slowdown in growth for
PCs and smartphones.
Lenovo spent roughly $4 billion in 2014 to buy the Motorola
smartphone business from Google Inc. as well as International
Business Machines Corp.'s x86 server unit.
Write to Eva Dou at eva.dou@wsj.com
(END) Dow Jones Newswires
February 03, 2016 03:25 ET (08:25 GMT)
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