Lenovo Cost Cuts Pay Off as Sales Surge
Lenovo Group Ltd. said net profit in the three months ended June rose to $66.8 million from $5.2 million a year earlier, while revenue in the period increased 13% to $3.93 billion from $3.48 billion. Total operating expenses edged down to $462 million from $465 million a year earlier. President and Chief Executive William Amelio said that Lenovo will continue to streamline its cost structure.
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