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Lenovo Quarterly Profits Surge on Improved Margins

By Tanner Brown / Aug 15, 2019 09:33 AM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Chinese tech giant Lenovo’s quarterly numbers are out and though revenue was up only 5%, profits more than doubled compared to the same period last year.

The company seemed to know what it had done right:

"The significant profit improvement was partly driven by a 2.7 percentage points year-on-year gross margin expansion to 16.4% as all three growth pillars showed consistent profit improvement," it said in a statement with its results, which were released before markets opened on Thursday.

In other words, Lenovo is taking more profit per dollar for each item it sells.

Related: Lenovo Hit With U.S. Patent Infringement Complaint

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