Lenovo Swings to 1Q Net Loss of US$72 Million

By Joanne Chiu Features Dow Jones Newswires

Lenovo Group Ltd. (0992.HK) swung to a net loss for first quarter ended June amid higher expenses and challenging market conditions

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The Chinese PC maker said Friday that its first-quarter net loss was US$72 million, compared with a net profit of US$173 million a year earlier.

Its first-quarter revenue was slightly lower at US$10.01 billion compared with US$10.06 billion a year ago. The company's gross profit margin fell 1.7 percentage points to 13.6% during the period, weighed largely by component cost increase arising from supply constraints across various products, it said.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

August 17, 2017 20:32 ET (00:32 GMT)