Chinese PC maker Lenovo fiscal Q1 profit doubles, revenue up 22%

By Che Pan and Brenda Goh

BEIJING (Reuters) -China’s Lenovo on Thursday reported a 108% rise in first-quarter profit despite challenges from U.S. tariff policies.

Net profit attributable to shareholders was $505 million, above the consensus estimate of $307.7 million.

Overall revenue at the world’s largest personal computer maker for the three months ended June 30 climbed 22% year-on-year to $18.8 billion , ahead of analysts’ expectations of $17.4 billion, according to LSEG data.

Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. REUTERS/Jason Lee/File photo" alt="© Reuters. FILE PHOTO: An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. REUTERS/Jason Lee/File photo" rel="external-image">

The U.S. and China have extended a tariff pause for another 90 days, averting triple-digit duties on each other’s goods and offering temporary relief to businesses on both sides.

Despite the truce, Chinese exports to the U.S. - including PCs - currently face a 30% levy, while U.S. exports to China face a 10% tariff.