BEIJING – Lenovo on Thursday posted a 108% surge in first-quarter profit, overcoming headwinds from U.S. tariff measures.
The Chinese PC giant reported net profit attributable to shareholders of $505 million for the three months to June 30, beating the consensus forecast of $307.7 million.
Revenue climbed 22% year-on-year to $18.8 billion, surpassing analysts’ expectations of $17.4 billion, according to LSEG data.
The U.S. and China recently extended a tariff suspension for another 90 days, staving off triple-digit duties on each other’s goods and providing temporary respite for businesses.
Still, Chinese exports to the U.S., including personal computers, remain subject to a 30% tariff, while U.S. goods exported to China face a 10% levy.
Source: Reuters
