China's Lenovo posts 64% slump in quarterly profit, but beats expectations

HONG KONG (Reuters) - China's Lenovo Group , the world's biggest PC maker, posted a better than expected quarterly profit on Wednesday and said it could benefit from the 'new normal' of working from home. Lenovo reported a 64% drop in net profit for its fourth quarter ended March to $43 million (35 million pounds) due to disruption cause by COVID-19, beating an average $7.49 million estimate of seven analysts, according to Refinitiv data. Revenue dropped 9.7% to $10.6 billion

Reuters May 20, 2020 06:05:42 IST
China's Lenovo posts 64% slump in quarterly profit, but beats expectations

Chinas Lenovo posts 64 slump in quarterly profit but beats expectations

HONG KONG (Reuters) - China's Lenovo Group <0992.HK>, the world's biggest PC maker, posted a better than expected quarterly profit on Wednesday and said it could benefit from the "new normal" of working from home.

Lenovo reported a 64% drop in net profit for its fourth quarter ended March to $43 million (35 million pounds) due to disruption cause by COVID-19 , beating an average $7.49 million estimate of seven analysts, according to Refinitiv data.

Revenue dropped 9.7% to $10.6 billion.

(Reporting by Pei Li; Editing by Muralikumar Anantharaman)

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