Lenovo sees surge in quarterly 3Q earinings

Chinese PC maker Lenovo Group (0992.HKG) reported a 30% increase in fiscal third-quarter earnings to US$265.3 million due to robust demand of PCs and smartphones in China, The Wall Street Journal reported. Lenovo, which last year overtook Hewlett-Packard (HPQ.NYSE) as the world’s biggest PC maker by shipment volume, said on Wednesday net profit for the three months ended Dec 31 rose 30% from US$204.9 million a year earlier, while revenue rose 15% to US$10.79 billion from US$9.36 billion. Lenovo’s solid quarterly results, which beat analysts’ expectations, come after the PC maker unveiled plans for two big acquisitions in the US.