Lenovo shares up 2 percent after fiscal first quarter net beats estimates

Wed Aug 14, 2013 9:36pm EDT

Lenovo tablets and mobile phones are displayed during a news conference on the company's annual results in Hong Kong May 23, 2013. REUTERS/Bobby Yip

Lenovo tablets and mobile phones are displayed during a news conference on the company's annual results in Hong Kong May 23, 2013.

Credit: Reuters/Bobby Yip

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(Reuters) - Shares of Lenovo Group Ltd (0992.HK), the world's largest PC maker, rose 2 percent on Thursday after it delivered its second-best quarterly earnings that also beat forecasts thanks to swift expansion in its mobile computing business.

Lenovo shares rose 2 percent to HK$7.71, outperforming the Hang Seng Index's .HSI 0.3 percent gain.

Lenovo's April-June net profit was $174 million, beating a consensus estimate of $166.0 million.

(Reporting by Lee Chyen Yee; Editing by Anne Marie Roantree)

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Comments (1)
CountryPride wrote:
No American should be buying Lenovo unless they want to support a Chinese government owned company and neglect supporting American companies.

Aug 14, 2013 12:24am EDT  --  Report as abuse
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