for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

China's Lenovo posts 64% slump in quarterly profit, but beats expectations

HONG KONG, May 20 (Reuters) - China’s Lenovo Group , the world’s biggest PC maker, posted a better than expected quarterly profit on Wednesday and said it could benefit from the “new normal” of working from home.

Lenovo reported a 64% drop in net profit for its fourth quarter ended March to $43 million due to disruption cause by COVID-19, beating an average $7.49 million estimate of seven analysts, according to Refinitiv data.

Revenue dropped 9.7% to $10.6 billion. (Reporting by Pei Li; Editing by Muralikumar Anantharaman)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up