Lenovo Swings to 1Q Net Loss of US$72 Million
Lenovo Group Ltd. (0992.HK) swung to a net loss for first quarter ended June amid higher expenses and challenging market conditions
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.
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(END) Dow Jones Newswires
August 17, 2017 20:32 ET (00:32 GMT)