Lenovo announces Q2 2011 results with $5.92b in revenue
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The Chinese computer manufacturer surpassed analysts’ estimates last week with its latest quarterly figures.
According to Bloomberg, Lenovo earned $5.92 billion in revenue during the three months leading to June 2011, a 15 percent increase from the same period a year earlier. About $2.05 billion of that came from Lenovo’s mature-market division, which includes the U.S. and parts of Europe. Overall, net income rose to $108.8 million, almost double from last year’s $54.9 million. The source states that the company blew past numerous expert estimates by over $80 million on average.
So how did Lenovo get away with such huge performance gains? Apparently, the manufacturer was able sell many new PC and notebook models to multiple companies in developed countries. About 80,000 LePad tablets were sold in China during the Q2 quarter alone.
Unfortunately, at least one analyst is cautious of Lenovo’s future performance. “They have done well so far, but it’s whether they can sustain this for the rest of the year that’s the question mark,” said Lai Voon San of MF Global Equities. Another analyst from Hong Kong, Jean-Louis Lafayeedney, had the same concerns as San. Lenovo shares in Hong Kong fell by 6.3 percent on that day, August 17th.
Whether or not Lenovo can keep its momentum throughout the rest of the year is certainly debatable. During that same quarter, Apple was able to sell 1.07 million iPads in China, according to Bloomberg sources. Lenovo may have to find a way to ward off Apple from its home turf if iDevices continue to eat away market share from the Chinese company.