Lenovo posts 64% slump in quarterly profit, but beats expectations

[HONG KONG] China's Lenovo Group, the world's biggest PC maker, posted a better than expected quarterly profit on Wednesday and said it could benefit from the "new normal" of working from home.

Lenovo reported a 64 per cent drop in net profit for its fourth quarter ended March to US$43 million due to disruption cause by Covid-19, beating an average US$7.49 million estimate of seven analysts, according to Refinitiv data.

Revenue dropped 9.7 per cent to US$10.6 billion.

REUTERS