China’s Lenovo reports 64% profit decline in fiscal Q4

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China’s Lenovo, the world’s largest personal computer manufacturer, on Thursday reported a worse-than-expected 64% fall in fourth-quarter profit, which it said was mostly due to a non-cash decline in the value of warrants.

Lenovo reported revenue of $16.98 billion for the quarter ended March 31, which exceeded analysts’ expectations of $15.6 billion, LSEG data showed.

Net profit to the company’s owners came in at $90 million, well short of the average analyst estimate of $225.8 million, according to LSEG data.

Lenovo launched its first AI-powered PCs in…



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China’s Lenovo reports 64% profit decline in fiscal Q4


China’s Lenovo, the world’s largest personal computer manufacturer, on Thursday reported a worse-than-expected 64% fall in fourth-quarter profit, which it said was mostly due to a non-cash decline in the value of warrants.

Lenovo reported revenue of $16.98 billion for the quarter ended March 31, which exceeded analysts’ expectations of $15.6 billion, LSEG data showed.

Net profit to the company’s owners came in at $90 million, well short of the average analyst estimate of $225.8 million, according to LSEG data.

Lenovo launched its first AI-powered PCs in…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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