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Lenovo Weathers China Slowdown With 11% Jump In Qtrly Profit – Investing.com India

August 10, 2022
Source: investing.com investing.com
News Snapshot:
By Ambar Warrick Investing.com-- Electronic devices maker Lenovo Group (HK: 0992 ) posted a higher-than-expected quarterly profit on Wednesday as strong smartphone sales and a better international presence helped offset a COVID-led slowdown in its largest market, China. Net profit attributable to shareholders for the three months to Jun 30, 2022 , rose 11% to $516 million, or 4.39 cents a share, Lenovo said in a filing. This beat expectations for earnings of 3.89 cents . Quarterly revenue came in flat at $16.96 billion, largely in line with estimates. Lenovo saw improved margins as stronger smartphone sales and infrastructure services...
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