Lenovo Profit Surges on Smartphones, Computer Sales
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Lenovo Group Ltd. reported a 23 percent surge in first-quarter profit as the world’s largest maker of personal computers gained a greater portion of the global market for desktop models and mobile devices. Shares rose.
Net income climbed to $213.5 million in the three months ended June from $173.9 million a year earlier, the company said today in beating analysts’ estimates. Chief Executive Officer Yang Yuanqing also said in an interview the company is negotiating with “multiple” U.S. government agencies to win approval for more than $5 billion of planned acquisitions.