China’s Top PC Maker Lenovo Posts Profit Above Estimates as Sales Beat
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Lenovo Group's earnings beat estimates after China’s top PC maker relied on new businesses to weather an unprecedented slump in global computing demand.
Lenovo Group Ltd.'s earnings beat estimates after China's top PC maker relied on new businesses to weather an unprecedented slump in global computing demand.Net income reached $541 million in the quarter ended September, the company said Thursday in a statement. The average analyst estimate was $473 million. Sales declined for the first time in more than two years to $17.1 billion, but still beat the $16.9 billion analysts predicted. Lenovo and its rivals Dell Technologies Inc. and HP Inc. are struggling with a global PC market that saw its steepest quarterly drop on record -- the fourth straight decline in shipments. In Lenovo...