Lenovo Registers Record High Quarterly Earnings
Mohammad Ali (@ChaudhryMAli88) Published February 20, 2020 | 03:09 PM
Chinese tech giant Lenovo reported record highs of quarterly revenue and pre-tax profit in the third quarter of the 2019/2020 fiscal year as its smart devices and services businesses further gained ground
BEIJING, (UrduPoint / Pakistan Point News - 20th Feb, 2020 ) :Chinese tech giant lenovo reported record highs of quarterly revenue and pre-tax profit in the third quarter of the 2019/2020 fiscal year as its smart devices and services businesses further gained ground.
The company raked in 99.3 billion Yuan (about 14.09 billion U.S. Dollars) in the fiscal quarter ending Dec. 31, marking the 10th consecutive quarterly growth, according to its financial statement released Thursday.
Pre-tax profit rose over 11 percent year on year to reach 2.75 billion yuan.
Personal computers (PCs) and smart devices were the biggest revenue contributors, with 17.
9 million PCs sold worldwide.
Revenue of its smart internet of Things business soared 278 percent year on year, the latest sign of Lenovo's progress in banking on intelligent services as new growth engines.
The majority of its Chinese industrial parks and production bases had resumed operation despite the ongoing novel coronavirus outbreak, said Yang Yuanqing, the group's chairman and CEO.
The epidemic's impact would be temporary and won't change the mainstay status of "Made in China" in the global supply chain, Yang said.
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From Business
-
Afghan trade delegation, FPCCI discuss bilateral trade
5 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
6 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
6 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
7 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
7 hours ago -
WHO delegation calls on Chairman FBR
7 hours ago
-
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
8 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
8 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
9 hours ago -
Digital technologies play significant role in economic growth: Shaza
9 hours ago -
Experts raise concerns over introduction of 10-stick packs
9 hours ago -
SACM directs making technical institutes as skill imparting centres
10 hours ago