Lenovo Q3 profit tops expectations, posting all-time-high revenue and profit

The Lenovo logo is seen in this illustration photo January 22, 2018. [Reuters]

China’s Lenovo Group, the world’s biggest maker of personal computers, posted on Wednesday a bigger-than-expected 53 per cent rise in third-quarter profit, helped by robust demand from people working from home as COVID-19 restrictions persisted. Net profit jumped to USD395 million for the October-December quarter. That beat an average estimate of USD293.7 million from eight analysts, according to Refinitiv data. Revenue increased 22 per cent to USD17.25 billion.

“The strong performance has been fueled by Lenovo’s robust growth across business groups as well as structural changes in lifestyle and work habits since the onset of the COVID-19 pandemic,” Lenovo said in a statement.