Lenovo continues to grow PC sales as net profit jumps 36%

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

Lenovo's (LNVGF) FQ2 net profit rose 36% to $219.7M and exceeded analyst expectations of $201M, lifted by higher margins in China and increased sales of smartphones.

Revenue climbed 13% to $9.77B and beat consensus of $9.41B.

Lenovo's Chinese margins grew to 6.8% in fiscal H1 from 6.1% a year earlier, due to higher average selling prices and cost controls. However, margins dropped in the Americas region.

Lenovo's FQ2 world-wide PC shipments edged up 2% vs a sector-wide decline of 7.6%.

Smartphone shipments surged over 78% to 12.3M units.

Lenovo intends to seek acquisitions to help its expansion. (PR)