Lenovo Q1 Net Profit Surges 30%

Lenovo Group Ltd

reported a 30% rise in its first-quarter net profit. Lenovo's quarterly net profit rose to $141.4 million, or $1.33 per share, from $108.8 million, or $1.08 per share, in the year-ago period. However, analysts were expecting a net profit of $133.77 million. Its revenue jumped 35% to US$8.01 billion from $5.92 billion, missing analysts' estimates of $8.13 billion. Lenovo shares gained 0.41% to close at $15.92 yesterday.