Lenovo Posts Q1 2013 Earnings With Net Profit Of $141.4 Million, Beats Estimates

Posted on Aug 16 2012 - 5:25am by Editorial Staff

Lenovo has announced its first quarter fiscal year 2013 results with posting a 30 percent rise in quarterly net profit, beating analysts’ forecasts. The company posted a net profit of $141.4 million for its April-June first quarter, up from $108.8 million from a year earlier.

In the first quarter, operating profit in North America was $46 million, against an operating profit of $52 million a year earlier. In a poll of 10 analysts by Thomson Reuters I/B/E/S, the result was better than an average forecast of $131.2 million.

“Although challenges to worldwide PC demand remain largely due to weakening economic condition, Lenovo remains both optimistic about the future of the PC market and committed to innovation,” Lenovo said in a statement.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.