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Lenovo Profit Beats Estimates Despite Lockdown-Sapped Demand

Lenovo Group Ltd.’s profit beat market estimates after the world’s biggest personal computer maker widened its lead over longtime rival HP Inc.

Net income of the Chinese PC giant jumped 58% to $412 million in the first three months of the year, a company filing showed, higher than analysts’ average estimate of $354 million. Sales were $16.7 billion in the same period, compared with the average expectation of $17.6 billion.