Top Tech: Lenovo Profits Jump 21% as Non-China Mobile Business Almost Stops Losing Money
Lenovo Group Ltd. on Thursday reported double-digit quarterly profit growth and its highest revenue in nearly four years, as strong sales helped it take back the spot as the world’s largest PC-maker from rival HP.
Lenovo said its profit grew nearly 21% to $168 million during the quarter that ended September, while its revenue rose 14% to $13.4 billion.
Shares of the Hong Kong-listed company were up more than 6% from the previous day’s close in early afternoon trade on Thursday, after the results were announced during the midday break.
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