Lenovo Reports 54% Surge In Q3 Net Profit

Lenovo Group Ltd (OTC: LNVGY) reported a 54% rise in its third-quarter net profit.

Lenovo's quarterly net profit climbed to US$153.46 million, from US$99.65 million, in the year-ago period. Its revenue surged 44% to US$8.37 billion from US$5.81 billion. However, analysts were expecting a net profit of US$148.3 million on revenue of US$8.13 billion.

Lenovo's shares closed at $16.12 yesterday.