China's Lenovo Group on Thursday posted a better-than-expected rise of 512% in fourth-quarter profit, as more consumers working and studying from home powered demand for the world's biggest maker of personal computers. Profit for the quarter ended March 31 jumped to $260 million, above an average estimate of $204.7 million from seven analysts, according to Refinitiv data. Revenue rose 48% to $15.63 billion from $10.58 billion a year earlier. Pandemic-fuelled buying of laptops, televisions and personal gadgets have propped up sales of various electronic companies including rival Samsung Electronics. Lenovo said in a statement its board recommended a final dividend of 24 Hong Kong cents per share for the year ended March 31.

Source: Mint May 27, 2021 04:30 UTC