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992 - Lenovo News Story

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Sector
Technology
Size
Large Cap
Market Cap £5.53bn
Enterprise Value £7.83bn
Revenue £38.74bn
Position in Universe 230th / 5990

China's Lenovo posts 64% slump in quarterly profit, but beats expectations

Wed 20th May, 2020 1:04am
HONG KONG, May 20 (Reuters) - China's Lenovo Group
 0992.HK , the world's biggest PC maker, posted a better than
expected quarterly profit on Wednesday and said it could benefit
from the "new normal" of working from home.
    Lenovo reported a 64% drop in net profit for its fourth
quarter ended March to $43 million due to disruption cause by
COVID-19, beating an average $7.49 million estimate of seven
analysts, according to Refinitiv data.
    Revenue dropped 9.7% to $10.6 billion.

 (Reporting by Pei Li; Editing by Muralikumar Anantharaman)
 ((Pei.Li@thomsonreuters.com; +852 64325868;))
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