Home » Sunday » Technology
Lenovo shifts to black
Print Edition
Lenovo Group Ltd posted a profit turnaround in its fiscal quarter ended in June amid a robust double-digit growth in revenue as computer sales boomed, China’s No. 1 PC maker said yesterday.
Hong Kong-listed Lenovo’s net profit totaled US$77 million in the quarter, a reversal from its loss of US$72 million a year ago. The result beat analysts’ prediction of US$59 million.
Its revenue jumped 19 percent year on year to US$11.9 billion for a second consecutive double-digit quarterly growth.
Lenovo has “passed the turning point” and entered a phase of “acceleration,” Yang Yuanqing, the company’s chairman and CEO, said in a statement yesterday.
The turnaround boosted Lenovo’s shares by 3.37 percent yesterday, compared with a 0.82 percent drop in the key Hang Send Index.
Globally, PC sales are set to rebound 1 percent in 2018, according to researchers Gartner and IDC.
Lenovo also has growing businesses covering data center, supercomputing and investment.
Lenovo’s Capital and Incubator Group will continue to invest in next-generation IT capabilities in artificial intelligence, Internet of Things, big data and virtual reality/augmented reality in manufacturing, health care and transport, the company said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
