China’s Lenovo Group on Thursday posted a better-than-expected rise of 512 p.c in fourth-quarter revenue, as extra shoppers working and learning from dwelling powered demand for the world’s greatest maker of non-public computer systems.
Profit for the quarter ended March 31 jumped to $260 million (roughly Rs. 1,890 crores), above a median estimate of $204.7 million (roughly Rs. 1,490 crores) from seven analysts, in keeping with Refinitiv knowledge.
Revenue rose 48 p.c to $15.63 billion (roughly Rs. 1,13,470 crores) from $10.58 billion (roughly Rs. 76,780 crores) a yr earlier. Analysts anticipated a income of $14.33 billion (roughly Rs.1,04,000 crores). Pandemic-fuelled shopping for of laptops, televisions, and private devices have propped up gross sales of varied digital corporations together with rival Samsung Electronics.
Lenovo mentioned in an announcement its board advisable a closing dividend of 24 Hong Kong cents per share for the yr ended March 31. In 2020, it paid 21.5 cents (roughly Rs. 15) per share. According to analysis agency Gartner, worldwide shipments of non-public computer systems rose practically a 3rd within the March quarter, following a weak 2020 base, the quickest year-over-year development since Gartner started monitoring the PC market twenty years in the past. Lenovo strengthened its lead in PCs with 1 / 4 of share of the market, forward of HP with 21.four p.c and Dell with 16.5 p.c, Gartner mentioned.
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