Chinese electronics giant reports $265 million in net profit in the third quarter on shipments of 15.3 million PCs. February 12, 2014 5:18 PM PST Lenovo third-quarter earnings bouyed by growing PC market share. (Credit: Sarah Tew/CNET) Lenovo Group announced Wednesday that its third-quarter net profit rose 29 percent from a year earlier after expanding its lead in PC market share. The Chinese electronics giant reported that its net profit in the quarter ending December 31 grew to $265.3 million from $204.9 million a year earlier, beating the $243 million average analysts' polled by Bloomberg had expected. The company's revenue grew 15 percent to $10.8 billion from $9.36 billion in the year-ago period, the first time it recoded $10 billion in sales. While worldwide PC shipments have been giving way to tablets and smartphones for the past two years, Lenovo reported Wednesday that it shipped 15.3 million PCs in its fiscal third quarter, giving it a quarterly market share of 18.5 percent, an increase of 2.4 percent. Market researcher Gartnerreported last month that Lenovo held on to its lead in the PC sector by 6.6 percent to capture 18.1 percent of the market share in the fourth quarter of 2013. More to come ...
Chinese electronics giant reports $265 million in net profit in the third quarter on shipments of 15.3 million PCs.
Lenovo third-quarter earnings bouyed by growing PC market share.
(Credit: Sarah Tew/CNET)
Lenovo Group announced Wednesday that its third-quarter net profit rose 29 percent from a year earlier after expanding its lead in PC market share.
The Chinese electronics giant reported that its net profit in the quarter ending December 31 grew to $265.3 million from $204.9 million a year earlier, beating the $243 million average analysts' polled by Bloomberg had expected. The company's revenue grew 15 percent to $10.8 billion from $9.36 billion in the year-ago period, the first time it recoded $10 billion in sales.
While worldwide PC shipments have been giving way to tablets and smartphones for the past two years, Lenovo reported Wednesday that it shipped 15.3 million PCs in its fiscal third quarter, giving it a quarterly market share of 18.5 percent, an increase of 2.4 percent. Market researcher Gartnerreported last month that Lenovo held on to its lead in the PC sector by 6.6 percent to capture 18.1 percent of the market share in the fourth quarter of 2013.
More to come ...
