Lenovo Q2 net profit up 21pc on premium computer sales

Chinese PC maker Lenovo Group reported a 21 per cent rise in quarterly net profit, beating expectations, thanks to more premium computers it was able to sell.

Its net profit for the second quarter (Q2) ended September came in at $168 million, versus $139 million a year earlier and an average estimate of $118 million from 9 analysts, according to Refinitiv data.

Revenue rose 14 per cent to $13.38 billion, the highest quarterly revenue in almost four years, thanks to an improvement in product mix. Lenovo said pre-tax profit of its personal computer and smart devices group rose 42 per cent year-on-year to $940 million in its fiscal first half of April through September.