Lenovo Sales Beat Estimates Though Profit Sags From PC Rivalry
Lenovo Group Ltd. posted its fourth straight quarter of double-digit revenue growth, reflecting a growing lead in PCs as well as demand for AI servers.
The Chinese company reported a faster-than-anticipated 23% rise in sales to about $17 billion. But net income plunged a worse-than-expected 64% to roughly $90 million, reflecting a loss on derivatives and pricing pressures in a still-stagnant PC market.
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