Lenovo reports 1.6x quarterly profit growth

Lenovo released its quarterly report. It shows that the computer equipment manufacturer completed the fiscal quarter with good performance. Quarterly net income reached $640 million, up 60% from the same 3-month period in the previous fiscal year. Such a high rate of profit growth for the quarter was not observed in the company’s entire history. Earnings per share of Lenovo jumped from $2.19 to $5.50. The revenue volume received by the company in the quarter ended December 31 increased to $20.1 billion, or 17% compared to the figure for October-December 2020. Lenovo sells its products worldwide. It was created in Beijing. It happened 37 years ago. The range of Lenovo products is quite extensive. The Chinese company produces computers that are in demand among consumers. It also produces smartphones, servers, and workstations.

Source: xCritical.com