Lenovo, the Chinese manufacturer of personal computers, following the results of the third financial quarter, which ended in December, reported a net profit of $233 million after a net loss of $289 million a year earlier. Profit exceeded the forecast of experts by 207 million dollars. Revenues reached a record level of 14 billion 40 million dollars. Its growth was at the level of 8.5%. Sales of smartphones declined by 20%. However, the division producing them recorded pre-tax profits, which happened for the first time since October 2014, when the company acquired Motorola. Revenue in the division producing personal computers and smart devices, marked a record, rising by 11.6%.
Singapore prepares for recession as virus-hit economy drops in first quarter25.03.2020
$2 trillion fiscal stimulus drives dollar lower23.03.2020
Futures decline again as coronavirus spread stirs contraction fears19.03.2020
U.S. Fed rolls out third emergency program to ensure liquidity in money market mutual funds