By Yifan Wang
Lenovo Group Ltd. released its results for the third quarter on Thursday. Here's what you need to know:
NET PROFIT: Net profit for the October-to-December quarter rose 11% on year to $258 million, beating a FactSet consensus estimate of $217 million.
REVENUE: Revenue edged up to $14.10 billion from $14.04 billion a year earlier, also higher than the FactSet consensus expectation of $13.35 billion.
WHAT WE WATCHED:
-- Coronavirus Impact: Some of Lenovo's factories remain closed while others have resumed production at partial capacity, company CEO Yang Yuanqing said in an interview. But the company said its global manufacturing capacities could buffer the disruptions.
-- PC Business: A shortage of Intel's central processing units has limited personal computer makers' production and sales globally since early 2019. The company said its "strong execution" of product mix improvement mitigated the shortage issue. Lenovo has been continuously shifting into high-growth and premium products such as gaming computers.
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