Lenovo's Quarterly Profit More Than Doubled on Higher Computer Sales

By Sherry Qin

Lenovo Group's quarterly profit more than doubled on higher sales of personal computers compared with a pandemic-driven slump a year ago, though the world's largest PC maker said demand weakened from the preceding quarter.

Hong Kong-based Lenovo said Thursday that net profit in its fiscal fourth quarter ended March was $248 million. That was up from $114 million a year earlier, when the PC maker battled a postpandemic downturn in PC demand, and beat estimates for $155 million in a FactSet poll of analysts.

Revenue rose 9% from a year earlier to $13.83 billion. That was down from the quarter ended December but beat analysts' estimates for $13.10 billion.

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(END) Dow Jones Newswires

05-23-24 0038ET