China's 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)

This story has not been edited by Firstpost staff and is generated by auto-feed.