China’s Lenovo Group, the world’s largest maker of private computer systems, posted on Wednesday a bigger-than-expected 53% rise in third-quarter revenue, helped by sturdy demand from individuals working from dwelling as Covid-19 restrictions continued. Web revenue jumped to $395 million for the October-December quarter.
That beat a mean estimate of $293.7 million from eight analysts, in line with Refinitiv information. Income elevated 22% to $17.25 billion.
“The strong performance has been fueled by Lenovo’s robust growth across business groups as well as structural changes in lifestyle and work habits since the onset of the Covid-19 pandemic,” Lenovo stated in an announcement.
The all-time-high income and revenue got here as Lenovo stated final month it plans to subject Chinese language Depository receipts (CDRs) representing as much as 10% of its complete inventory for itemizing on the Science and Know-how Innovation Board of the Shanghai Inventory Alternate, the newest in a line of corporations searching for a mainland itemizing.
Pandemic-fuelled shopping for of laptops and different private devices, in addition to televisions, have propped up gross sales of corporations together with Samsung Electronics and Panasonic Corp.
Based on analysis agency Gartner, worldwide shipments of private computer systems rose 10.7% within the December quarter.
Lenovo strengthened its lead in PCs with 27.1% of the market, forward of HP Inc with 19.8% and Dell Applied sciences with 16.6%.