Profits Blow Past ExpectationsBy Reuters | Print
Re-Imagining Linux Platforms to Meet the Needs of Cloud Service Providers
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))