Lenovo FQ2 Profit Up 13%

Lenovo Group Ltd

reported a 13% rise in its net profit for the fiscal second quarter. Lenovo's quarterly net profit surged to $162.1 million, from $143.9 million in the year –ago period. However, analysts were expecting a net profit of $154.6 million. Its revenue climbed 11% to $8.67 billion from $7.79 billion, while its PC shipments gained 10% y/y. Lenovo shares dropped 0.53% to close at $17.21 yesterday.