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Lenovo profit beats expectations, helped by remote working trend

Lenovo profit beats expectations, helped by remote working trend

FILE PHOTO: The Lenovo logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/Illustration

HONG KONG: China's Lenovo Group , the world's biggest PC maker, posted a better than expected quarterly profit on Thursday and said it is capturing opportunities emerging from remote working and education.

Lenovo reported a 31per cent jump in net profit for its first quarter ended June to US$213 million, beating an average US$107.48 million estimate of five analysts, according to Refinitiv data.

Revenue increased 7per cent to US$13.3 billion.

"The PC market significantly outperformed the industry forecast of a market decline," Lenovo said in a statement.

"Looking to the future, the company expects this strong PC demand will be a long-term trend."

(Reporting by Pei Li; Editing by Muralikumar Anantharaman)

Source: Reuters

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