China’s Lenovo beats on revenue, to focus on AI PCs

News Snapshot:

HONG KONG (Reuters) — China's Lenovo Group, the world's largest maker of personal computers (PCs), reported stronger-than-expected earnings on Thursday, with revenue returning to growth after five quarters of decline amid a post-COVID-19 slowdown. It said October-December revenue rose 3% from the same period a year prior to $15.72 billion. Analysts polled by LSEG estimated revenue to be flat at $15.25 billion. Revenue started contracting in 2022 at the end of a boom in demand for PCs and other electronic products that had been brought about by movement restrictions during the pandemic. But after almost two years of decline, the...