Lenovo third-quarter net profit jumps 29 percent, beats estimates
BEIJING - China's Lenovo Group Ltd, the world's biggest maker of personal computers, said third-quarter net income rose 29 percent from a year earlier, beating estimates as sales grew in both its PC andsmartphone businesses.
Lenovo reported net income for the period grew to $265.3 million from $204.9 million a year earlier, well above a $247.2 million consensus forecast on Thomson Reuters Starmine SmartEstimate.
As the global market for PCs shrinks, Lenovo is aggressively pushing into smartphones and servers. Last month it agreed to buy Goog