Lenovo profit beats estimates as PC demand recovers
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Summary
Lenovo Group Ltd, the world's largest PC maker, surprised analysts with a more resilient performance than anticipated. Despite challenges posed by post-COVID-19 market conditions, the company reported a smaller-than-expected decline in profit. In the three months ending September, Lenovo saw a 54 percent decrease in net income, with a total of US$249.2 million. Analysts had predicted a more significant drop, estimating earnings at US$224.9 million. Additionally, the company's revenue for the same period reached US$14.4 billion, in line with the average forecast. This positive outcome suggests a promising recovery in PC demand and reinforces Lenovo's position in the market.
Taipei Times
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