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Lenovo posts profit in Q2, revenues down

Staff Writer | November 7, 2016
Lenovo Group posted a profit for the second quarter, as lower revenues were offset by significant reduction in operating expenses, amid difficult market conditions.
Lenovo Group
Lenovo Group   Operating expenses fell 41 percent
For the quarter, the company reported net profit of $157 million or $1.42 a share, versus a net loss of $714 million or $6.43 a share last year.

Operating expenses fell 41 percent to $1.392 billion from $2.359 billion last year.

Revenue for second quarter slid 8 percent to $11.2 billion. While PC and tablet markets were down, the company said, smartphones and servers showed modest growth.