November 2, 2017 / 4:37 AM / a year ago

China's Lenovo Q2 profit slides 11 pct y/y, but beats estimates

HONG KONG, Nov 2 (Reuters) - Chinese personal computer maker Lenovo Group on Thursday reported an 11 percent profit drop in second-quarter profit, hurt by supply constraints and continued difficulty in the PC market.

Profit came in at $139 million in the July-September quarter, Lenovo said in a filing to the Hong Kong stock exchange, versus $157 million a year ago.

That was above an average estimate of $44 million from 11 analysts polled by Thomson Reuters.

It reported a revenue of $11.8 billion, compared with $11.2 billion last year and a consensus estimate of $11.3 billion.

Lenovo said its global PC unit shipments rebounded 17 percent from the previous quarter, though its PC market share in the six months dropped 0.2 percentage point to 21 percent. (Reporting by Sijia Jiang; Editing by Himani Sarkar)

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