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Lenovo reports a robust quarter

Notebook sales helped push the PC maker to $3.7 billion in revenue and a big jump in profit.

Jon Skillings Editorial director
Jon Skillings is an editorial director at CNET, where he's worked since 2000. A born browser of dictionaries, he honed his language skills as a US Army linguist (Polish and German) before diving into editing for tech publications -- including at PC Week and the IDG News Service -- back when the web was just getting under way, and even a little before. For CNET, he's written on topics from GPS, AI and 5G to James Bond, aircraft, astronauts, brass instruments and music streaming services.
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Jon Skillings

PC maker Lenovo turned in a strong financial performance for its fourth fiscal quarter, with revenue, profits, and PC shipments all seeing notable jumps.

For the quarter that ended March 31, Lenovo said that profits attributable to shareholders grew 133 percent to $140 million from the same period a year ago. That figure includes $36 million in net profit from the sale of discontinued operations (its mobile handset business). Earnings per diluted share hit $1.44, a rise of 112 percent.

Revenue for the three-month period rose 13 percent to $3.7 billion.

China-based Lenovo said that worldwide PC shipments grew 21 percent, ahead of the industry average growth rate.

Notebook PCs outpaced desktops for the quarter, with notebooks making up 61 percent of total sales versus 38 percent for desktops. Notebook shipments were up 38 percent, while desktop shipments were up 9 percent.

The company's Greater China business accounted for 34 percent of total sales during the quarter, while its Americas business accounted for 27 percent, slightly ahead of the percentage for Europe, the Middle East, and Africa. Asia-Pacific sales excluding China accounted for 15 percent of sales.