FILE PHOTO: The Lenovo logo is seen in this illustration photo 22 January 2018. REUTERS/Thomas White/Illustration
HONG KONG (Reuters) – Lenovo Group reported a more than three-fold increase in quarterly profit thanks to strong computer sales.
Lenovo’s profit in the quarter ended in March rose to $118 million, beating an average estimate of € 91.4 million by seven analysts, according to Refinitiv data.
The turnover increased with 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 net profit of $597 million, from a loss of $189 million a year earlier. The turnover rose to a record $51 billion.
Reporting by Sijia Jiang; Editing by Anshuman Daga