Lenovo, the world’s biggest personal computer manufacturer, swung back into the black in the second quarter despite falling revenues.
Net profit improved to $152m for the three months to September 30 from a $717m loss during the same quarter in 2015. This was higher than the $87.6m profit forecast by analysts, according to Bloomberg. The results were boosted by a $206m gain from selling property and a $12m addition from the disposal of other assets.
The improvement in profits came despite an 8 per cent fall in revenues in the quarter, to $11.2bn. For the first half as a whole, revenues were down 7 per cent versus a year earlier at $21.3bn.
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