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Lenovo Q2 net profit up 21% on premium computer sales
[HONG KONG] Chinese PC maker Lenovo Group reported a 21 per cent rise in quarterly net profit, beating expectations, thanks to more premium computers it was able to sell. Its net profit for the second quarter ended September came in at US$168 million, versus US$139 million a year earlier and an average estimate of US$118 million from ninre analysts, according to Refinitiv data.
Revenue rose 14 per cent to US$13.38 billion, the highest quarterly revenue in almost four years, thanks to an improvement in product mix. Lenovo said pre-tax profit of its personal computer and smart devices group rose 42 per cent year-on-year to US$940 million in its fiscal first half of April through September.