Lenovo FQ1 Profit Rises 23%

Chinese computer maker Lenovo Group

reported a 23% rise in its net profit in its fiscal first quarter. Lenovo's quarterly net profit surged to $173.93 million, from $141.37 million, in the year-ago period. Its revenue climbed 9.7% to $8.79 billion from $8.01 billion. Lenovo shares closed at $19.62 yesterday.