Lenovo Group Ltd. surged the most in almost two years after posting profit that beat estimates, with the Chinese company expanding its global market share for personal computer and smartphone sales.
The shares in Hong Kong rose 7.3 percent, the biggest gain since April 2013. Net income was $253 million in the quarter ended December, compared with the $182.4 million average of analysts’ estimates compiled by Bloomberg.
Chief Executive Officer Yang Yuanqing is defying weak growth in the PC industry by increasing sales, margins and market share as he expands in smartphones and servers. Lenovo bolstered that push with $5 billion of acquisitions last year, including buying Motorola Mobility from Google Inc. and purchasing International Business Machines Corp.’s low-end server unit.
Posts
No comments:
Post a Comment