Lenovo Group Result 1/02/2018

By Vijaya
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Lenovo Group has announced its results for its third quarter. Revenue for the quarter was $12.9 billion, a 6.3% increase compared to $12.1 billion reported in Q3 of 2017. Net loss in the quarter was $289 million, compared to a net income of $98 million in Q3 of 2017. The drastic decrease in the net profit was due to one-time tax charge of $400 million due to recently enacted US tax reform legislation.

PC and Smart Devices (PCSD) business group revenue was $9.3 billion, with PC shipments of 15.7 million. Data Center Group showed highest quarterly revenue in two years at $1.2 billion. Mobile Business Group revenue was $2.1 billion.