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Lenovo's fourth quarter a mixed bag

Reporting earnings of $42 million on sales of $4.88 billion, the PC maker seems to be doing well enough in emerging markets while also holding its own in mature markets.

Lenovo's fourth quarter was a mixed bag relative to expectations, but its strategy to protect its home turf--China--and mature markets such as the U.S. while attacking emerging markets appears to be working well.

The PC maker reported fourth-quarter earnings of $42 million on sales of $4.88 billion. Wall Street was expecting revenue of $5.08 billion, according to Thomson Reuters. Barclays Capital was looking for $5 billion. Earnings appear to be better than expectations, but the estimates are all over the place.

For fiscal 2011, Lenovo doubled its profit to $273 million on revenue of $21.6 billion. Those results handily topped expectations.

Read more of "Lenovo's emerging markets strategy paying off" at ZDNet's Between the Lines.