Lenovo breaks its quarterly sales record

February 20, 2020 | Investopaper

Lenovo Group Ltd., one of the largest PC makers of the world has reported that its net profit has surged by 11 percent on-year for the third quarter. Similarly, it has also made the record-high quarterly sales and better profitability. The reason behind this is the improvement in its product mix.

Last year, it made a profit of $233 million in the third quarter while the profit stands at $258 million this year. It was above the expectations of the analysts. On the other hand, the revenue was reported to be $14.10 billion which was $14.04 billion last year. As a result, the company has broken its quarterly sales record.

Due to the coronavirus outbreak, the company expects that its business performance will be hampered in the short term. The companies factories have resumed partial production in China. However, its suppliers and logistics partner’s operations are disrupted due to manufacturing suspension and transportation restrictions in China. This is because the country has been trying to contain the virus outbreak.


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