Lenovo Q3 Profits Rise 29 Percent, Motorola Acquisition Could Contribute to Short-Term Slide
February 13, 2014 1:00 PM
comment(s) - last by
Lenovo's market share increased to 18.5 percent
Even as the PC market continues to shrink, Lenovo is holding its own with impressive third quarter financials thanks to its aggressive push into servers and smartphones (and even modest PC sales).
, its Q3 net income rose 29 percent from a year earlier, growing from $204.9 million to $265.3 million. This certainly beat analyst expectations of $247.2 million, as predicted by Thomson Reuters Starmine SmartEstimate.
Quarterly revenue reached $10.8 billion, which was a 15-percent jump from the same quarter in the previous year, and the first time it passed the $10 billion mark. Pre-tax income for the quarter was up 30-percent year-on-year, achieving $321 million.
When it comes to actual devices, shipments reached 32.6 million (17.3 million smartphones and tablets and 15.3 million PCs).
Lenovo managed to increase its market share by 2.4 percent compared to the same quarter the previous year, bringing it to 18.5 percent.
“Lenovo had outstanding performance last quarter, delivering both record revenue and record profit. Leveraging strong execution of our strategy, innovative products and growth in our PC Plus business, we continue delivering on our commitment to improve our profitability and we are confident we will maintain this momentum in our existing businesses,” said Yang Yuanqing, Chairman and CEO of Lenovo.
“Further, the Motorola and IBM server acquisitions that we just announced are a perfect fit with our PC Plus strategy. While our top priority now is full participation in the regulatory approvals process, I am confident that from day 1 after closing, these businesses will quickly begin contributing to our performance and develop into pillars for long-term, sustainable growth.”
On the sidelines, Yuanqing said the company's $2.9 billion acquisition of Google's Motorola Mobility could cause a short-term dip in future earnings reports.
sold Motorola to Lenovo
late last month at a $7 billion net loss.
This article is over a month old, voting and posting comments is disabled
2/14/2014 4:56:40 AM
MS is not the reason you are losing money. Selling crap is. Lenevo is doing just fine in the same market.
"So if you want to save the planet, feel free to drive your Hummer. Just avoid the drive thru line at McDonalds." -- Michael Asher
Google to Sell Motorola to Lenovo for $2.91B, Takes $7B+ Net Loss
January 29, 2014, 5:56 PM
Motorola Moto X+1 Makes Appearance in Leaked Photos
July 25, 2014, 12:06 PM
Sony Finally Adds 3D Blu-ray Support to PS4
July 24, 2014, 3:44 PM
IDC: Although Apple Remains at Top of Tablet Market, Share Falls from 33% to 26.9%
July 24, 2014, 1:24 PM
Thanks in Part to Strong G3 Launch, LG Sells 14.5 Million Smartphones in Q2
July 24, 2014, 10:18 AM
4.7" Samsung Galaxy Alpha Smartphone Coming Next Month
July 24, 2014, 8:28 AM
Report: Apple to Launch 12" Retina MacBook Air, 4K Desktop Product Later this Year
July 24, 2014, 4:33 AM
Most Popular Articles
Microsoft Kills Entertainment Unit, May Shelve Flagship Lumia "McLaren"
July 18, 2014, 7:40 PM
JJ Abrams Unveils X-Wing Starfighter for New "Star Wars" Movie
July 21, 2014, 12:24 PM
Ford Details ’15 F-150’s 325hp, 2.7L EcoBoost V6; Demonstrates 732-lb Weight Loss
July 22, 2014, 6:55 PM
Comcast Memo: Harassing Customers During Retention Calls Actually IS Our Policy
July 22, 2014, 5:19 PM
Motorola Moto G Successor Reportedly Uncovered, Moto X Discounted by up to $75
July 21, 2014, 1:11 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information