November 8, 2018 / 4:50 AM / 9 days ago

Lenovo Q2 net profit up 21 pct on premium computer sales

HONG KONG, Nov 8 (Reuters) - Chinese PC maker Lenovo Group reported a 21 percent rise in quarterly net profit, beating expectations, thanks to more premium computers it was able to sell. Its net profit for the second quarter ended September came in at $168 million, versus $139 million a year earlier and an average estimate of $118 million from 9 analysts, according to Refinitiv data.

Revenue rose 14 percent to $13.38 billion, the highest quarterly revenue in almost four years, thanks to an improvement in product mix. Lenovo said pre-tax profit of its personal computer and smart devices group rose 42 percent year-on-year to $940 million in its fiscal first half of April through September. (Reporting by Sijia Jiang; Editing by Himani Sarkar and Muralikumar Anantharaman)

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