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China’s Lenovo posts 65% rise in Q2 profit -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Lenovo logo was seen in Kiev, Ukraine on April 21st 2016. REUTERS/Gleb Garanich

SHANGHAI, (Reuters) – China’s Lenovo Group (OTC), the largest maker of personal computers in the world reported a 65% increase in its second quarter profit. It also said that it witnessed a record-breaking growth rate for the commercial market during this period.

The quarter ending Sept. 30, saw a jump in profit to $512million, compared with $310 million one year ago.

According to Refinitiv data, revenue rose 23%, to $17.9billion, slightly higher than the average estimate from nine analysts of $17.3 billion.

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