{"id":22356,"date":"2017-02-16T06:46:41","date_gmt":"2017-02-16T06:46:41","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=22356"},"modified":"2017-02-16T06:47:09","modified_gmt":"2017-02-16T06:47:09","slug":"lenovo-third-quarter-net-profit-falls-67-pct-blames-weak-macroeconomic-environment","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/lenovo-third-quarter-net-profit-falls-67-pct-blames-weak-macroeconomic-environment.html","title":{"rendered":"Lenovo third-quarter net profit falls 67 pct, blames weak macroeconomic environment"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Lenovo third-quarter net profit falls 67 pct, blames weak macroeconomic environment<\/span><\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Lenovo third-quarter net profit falls 67 pct, blames weak macroeconomic environment:- Lenovo Group Ltd, the world&#39;s largest personal computer (PC) maker, on Thursday posted a 67 percent slide in third-quarter net profit, lagging analyst estimates, as supply constraints and a weak macroeconomic environment weighed.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Profit fell to $98 million over the three months through December, from $300 million in the same period a year earlier. That compared with the $159.53 million average of 14 analyst estimates in a Thomson Reuters poll.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Revenue fell 6 percent to $12.2 billion.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Component supply constraints across the industries in which Lenovo operates impacted performance, in addition to a challenging macro environment and global markets, the company said in a filing.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The results come as PC makers continue to battle against tablets and smartphones which for many consumers have become the primary devices for internet access and casual computing. Global PC shipments fell for a fifth consecutive year in 2016, by 6.2 percent, showed data from researcher Gartner.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Nevertheless, Lenovo saw its core PC business book 2 percent revenue growth to $8.6 billion, reversing a seven-quarter downward trend. Shipments rose 2 percent to 15.7 million units, helped by a 5 percent rise in commercial PCs.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Shipments in its mobile phone unit fell 26 percent, though that represented improvement since the first quarter.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Lenovo&#39;s share price has risen over 10 percent this year, in line with gains in the Hang Seng index. The stock ended morning trade down 2.1 percent, versus the benchmark&#39;s 0.4 percent rise.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:8px;\"><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Source:-&nbsp;http:\/\/in.reuters.com\/article\/lenovo-results-idINKBN15V0CH<\/span><\/span><\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/lenovo-third-quarter-net-profit-falls-67-pct-blames-weak-macroeconomic-environment.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Lenovo third-quarter net profit falls 67 pct, blames weak macroeconomic environment Lenovo third-quarter net profit falls 67 pct, blames weak macroeconomic environment:- Lenovo Group Ltd, the world&#39;s largest personal computer (PC) maker, on Thursday posted a 67 percent slide in third-quarter net profit, lagging analyst estimates, as supply constraints and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[13802,13803,13801,11553,12518],"class_list":["post-22356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-hang-seng-40","tag-lenovo","tag-lenovo-third-quarter-net-profit-falls-67-pct-blames-weak-macroeconomic-environment","tag-performance","tag-results"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/22356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=22356"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/22356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/22357"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=22356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=22356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=22356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}