Lenovo Q4 net more than triples, beat forecasts

Reuters

HONG KONG (Reuters) - Lenovo Group Ltd <0992.HK>, the world's No.4 PC brand, more than tripled its fourth-quarter net profit, beating forecasts on robust demand from emerging markets.

The company reported a net profit of $42.13 million for the January-March quarter, up from $12.8 million a year earlier, according to Reuters' calculations based on full-year results.

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The result was better than expectations for a $36.7 million net profit from 23 analysts polled by Thomson Reuters I/B/E/S.

Lenovo's results came a week after bigger rivals Dell Inc delivered stellar quarterly results and Hewlett-Packard Co disappointed markets and slashed its 2011 earnings forecasts.

Lenovo shares fell 11 percent in January-March, lagging a 2.1 percent gain in the benchmark Hang Seng Index <.HSI>.

(Reporting by Lee Chyen Yee; Editing by Matt Driskill and Chris Lewis)

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