Lenovo doubles its earnings during the first quarter of its fiscal year

The Chinese technology group Lenovo, the world’s largest manufacturer of personal computers, achieved a net attributable profit of US $162 million in the first quarter of its fiscal year (April-June), which means they more than doubled their earnings for the same period of 2018, which amounted to UD $77 million, as reported by the company.

Lenovo’s turnover in the first three months of its fiscal year, which will end in March 2020, reached US $12.512 billion, 5% above the revenue for the same period of the previous year.

It is the eighth consecutive quarter in which the Chinese manufacturer’s revenues grow year-on-year.

For its part, the operating profit of the Asian company reached US $343 million in its first fiscal quarter, 90% higher than the April-June period of 2018.

“This fiscal year has started in an excellent way. Once again, the solid results of this quarter clearly demonstrate that Lenovo’s smart transformation strategy is allowing the company to drive sustainable and profitable growth in a dynamic and changing world,” he said. Yang Yuanqing, president and CEO of Lenovo.

In the PC market, the Chinese group reached a historical share of 24.9% in its first fiscal quarter, which means that Lenovo currently manufactures one in four PCs in the world.

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