Hoards of housebound workers, students and bored people looking for entertainment are proving a boon for leading global PC maker Lenovo, which has reported record revenue and profits for its latest quarter.

The company’s revenue rose 22% year-on-year to $17.2 billion in the last three months of 2020, while its profit rose by an even stronger 53% to $395 million, according to its latest report released Wednesday. The company said it saw “robust growth across business groups,” citing “structural changes in lifestyle and work habits since the onset of the Covid-19 pandemic” as a primary driver.

Strong work-from-home demand helped to power a 31% jump in sales for Lenovo’s thin and light notebook PC sales, while its PC segment targeted at gamers grew by as much as 61%.

The global PC market surged during last year’s fourth quarter, with worldwide PC shipments up 26.1% year-on-year to 91.6 million units, according to market research firm IDC. Lenovo outpaced the global rate with 29% growth during the quarter, helping to consolidate its place as the world’s biggest PC brand with just over a quarter of the market.

Investors initially applauded the Lenovo results, with the company’s Hong Kong-listed shares rising 4.6% in Wednesday trade after the announcement came out. But the stock gave back all of those gains as of midway through the Thursday trading day. Still, the shares have doubled since last October, and now trade at highs not seen since 2015.

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Contact reporter Yang Ge (geyang@caixin.com)