Shares in the company rose by as much as 9.7 percent after
its results, and were on course for their biggest daily percentage gain since
March 30.
Profit for the quarter ended June 30 rose 119 percent to
$466 million, versus $213 million in the same quarter last year, and above an
average estimate of $345.23 million from six analysts, according to Refinitiv
data.
Revenue rose 27 percent to $16.9 billion from $13.3 billion
a year earlier. Analysts expected revenue of $16 billion. It also posted net
income margin of 2.8 percent, which the company said was the highest in many
years
Lenovo said a recovery in IT spending was fuelling demand
and supporting higher average selling prices of its products, and it expected
the total personal computer market would continue to grow over the next five
years.
"The accelerated digital and intelligent transformation
has created significant market opportunities globally," Lenovo's Chairman
and CEO Yuanqing Yang said in a statement.
"We will continue to increase R&D investment,
aiming to double it over the next three years."
The results were the first earnings released by the company
since it reorganised its business groups in February.
Analysts say pandemic-driven consumer demand for PCs is
starting to slow, but shortages of components like chips, driven by
stronger-than-expected global demand for PCs, tablets, and electronic cars,
remain an industry concern.
Worldwide shipments of personal computers rose 13 percent
year-on-year to hit 82.3 million units in the second quarter of 2021, with
desktop shipments growing for the first time since the fourth quarter of 2019,
research firm Canalys said in a report last month.
Lenovo extended its industry lead, shipping more than 20
million units for the third consecutive quarter to take 24.4 percent market
share, compared with HP with 22.6 percent and Dell with 17 percent, Canalys
said.
.jpeg)
0 comments:
Post a Comment