Profits Blow Past ExpectationsBy Reuters | Posted 2010-11-10 Email Print
WEBINAR: On-demand webcast
Take Advantage of Cloud Backup to Kick-Start Your Disaster Recovery REGISTER >
Lenovo saw an improved third quarter and executives said the company was looking to acquisitions in its core business, PCs.
Lenovo posted a net profit of $76.6 million in its fiscal second quarter through September, up from the $53.1 million recorded a year ago, according to Reuters calculations based on data supplied to the Hong Kong stock exchange.
That also beat market expectations for a $66.75 million net profit, according to a poll by Thomson Reuters I/B/E/S.
Operating profit margin, a key indicator for profitability in the sector, clocked in at 1.9 percent, better than the 1.58 percent it recorded in the April-June quarter.
Lenovo announced its results after the Hong Kong stock market closed on Wednesday. Its shares are up about 10 percent so far this year, lagging a 13 percent advance on the benchmark Hang Seng Index .HSI. (Editing by Muralikumar Anantharaman))