Lenovo’s Profit Triples on Computer Demand From Companies
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Lenovo Group Ltd., China’s biggest maker of personal computers, reported fourth-quarter profit tripled, beating analysts’ estimates, after increasing sales to businesses in the U.S. and Europe.
Net income climbed to $42 million in the three months ended March 31, from $13 million a year earlier, Lenovo said today in a statement. That exceeded the $38.4 million average of six analyst estimates compiled by Bloomberg. Revenue rose 13 percent to $4.88 billion, it said.