China's Lenovo Q3 profit falls 21 percent, beats estimates on strong revenue​

China's Lenovo Group (0992) reported on Thursday a 21 percent drop in third-quarter profit, but beat analyst expectations as strong revenue growth helped offset margin pressures.

Net profit attributable to shareholders fell to US$546 million for the three months ended December 31, above the average analyst estimate of US$451.29 million, according to LSEG data.

Revenue rose 18 percent year-on-year to US$22.2 billion, beating expectations of US$20.6 billion, as the world's largest PC maker benefited from artificial intelligence-driven demand.

Adjusted net profit, which excludes one-off items and non-cash charges, climbed 36 percent to US$589 million.

Reuters