Lenovo Q4 revenue tops estimates on strong PC sales

BEIJING: Lenovo Group reported a better-than-expected 27% jump in quarterly revenue on Friday, as strong consumer demand for PCs ahead of potential price hikes helped the world’s largest computer maker expand its market share.

Lenovo shares surged 15% on Friday and were the biggest percentage gainer in the Hang Seng Index.

The Chinese firm’s PC, tablet and smartphone division – its biggest revenue source – ‌reported a 24% ⁠increase ⁠in revenue in the quarter that ended in March, the highest quarterly growth rate in five years.