Lenovo Profit Beats Analysts’ Estimates; Shares Rise
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Lenovo Group Ltd., China’s biggest maker of personal computers, said fiscal third-quarter profit rose 25 percent, exceeding analysts’ estimates, as customers replaced aging machines and component costs fell.
Net income increased to $99.7 million, or 0.98 cent a share, in the three months ended Dec. 31, from $79.5 million, or 0.79 cent, a year earlier, Lenovo said today in a statement. Profit was expected to be $86.1 million, according to the average of five analyst estimates compiled by Bloomberg. Revenue rose 22 percent to $5.81 billion.