Lenovo Group fourth-quarter profit surges more than three-fold

May 23, 2019

HONG KONG (Reuters) – Lenovo Group reported a more than three-fold increase in its quarterly profit thanks to strong computer sales.

Lenovo’s profit in the quarter ended March rose to $118 million, beating an average estimate of $91.4 million by seven analysts, according to Refinitiv data.

Revenue rose 10 percent to $11.71 billion, in line with the average estimate of $11.65 billion by 11 analysts.

For the full year ended March, Lenovo swung to a profit of $597 million, from a loss of $189 million a year earlier. Revenue rose to a record $51 billion.

(Reporting by Sijia Jiang; Editing by Anshuman Daga)

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