Lenovo Reports Quarterly Profit
May 23, 2008
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Lenovo Group said that earnings for its latest quarter rose 133% as strong sales in China and Europe offset slower growth in the United States. Profit totaled US$140 million (89 million euros) for the three months ending March 31. Total revenues rose 13.5% to $3.7 billion (2.3 billion euros).Sales in China, which accounts for about one-third of Lenovo revenues, rose 18% to $1.29 billion ($820 million euros) in the quarter. Sales in Europe, Africa, and the Middle East were up 30% at $879 million (558 million euros), the company said.Sales in the United States and the rest of the Americas rose just 9% to $1  billion (670 million euros).

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