Lenovo net profit jumps 29 percent in 3Q on PC sales Lenovos third-quarter earnings were buoyed by its growing PC market share. (Credit: Sarah Tew/CNET) Lenovo Group announced Wednesday that its third-quarter net profit rose 29 percent from a year earlier after expanding its lead in PC market share. The Chinese electronics giant reported that its net profit in the quarter ending December 31 grew to $265.3 million from $204.9 million a year earlier, beating the $243 million average analysts polled by Bloomberg had expected. The companys revenue grew 15 percent to $10.8 billion from $9.36 billion in the year-ago period, the first time it recorded $10 billion in sales. Lenovo reported that it shipped 15.3 million PCs in its fiscal third quarter, giving it a quarterly market share of 18.5 percent, an increase of 2.4 percent. Market researcher Gartner reported last month that Lenovo held onto its lead in the PC sector by 6.6 percent to capture 18.1 percent of the market share in the fourth quarter of 2013. Related stories ... [Read more] February 13, 2014 at 03:18AM By Samy Mohab
Posted on: Thu, 13 Feb 2014 02:34:50 +0000
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