Lenovo posts larger-than-expected net profit

|About: Lenovo Group Ltd. ADR (LNVGY)|By:, SA News Editor

Lenovo (LNVGY.PK) — now the world's largest PC maker — posts an FQ1 net profit of $174M (+23% Y/Y), beating consensus estimates by $8M.

Revenue for the period comes in at $8.78B, up 10% Y/Y.

Gross margin and operating margin were 13.6% and 2.3% respectively for Q1. (presentation)

Shares +2.9% in Hong Kong trade.