Lenovo profit rises 25%, beating forecasts

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LOS ANGELES (MarketWatch) -- Lenovo Group Ltd. said Thursday its fiscal third-quarter profit rose 25% to $100 million, or 98 cents a share, from $80 million, or 79 cents a share, in the same quarter a year before. Analysts had expected earnings on average of $86.9 million, according to a survey of analysts reported by Dow Jones Newswires. Sales for the October-December quarter rose 22% to $5.81 billion, up from $4.76 billion in the year-ago period. Lenovo said its share of the Chinese personal-computer market hit a record 32.3% during the quarter. Shares of the company closed morning-session trade 1.7% higher, ahead of the midday earnings announcement.

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