Mubasher: China’s Lenovo Group logged a better-than-expected quarterly profit and said it is continuing to benefit from new normal remote working after COVID-19, Reuters reported on Tuesday.  

The world’s biggest PC maker has set new records for group revenue, pre-tax income, and net income, and all three key business groups delivered yearly growth for the first time in six quarters.

“Last quarter was what I would call a perfect quarter for Lenovo,” the company’s Chairman, Yang Yuanqing, told Reuters.

Lenovo achieved a 53% jump in net profit for the third quarter (Q3) to $310 million, beating the average analyst estimate of $224 million, according to Refinitiv data.

Revenue, meanwhile, increased by 7% to $14.5 billion.

The Chinese giant predicts to benefit from higher sales of PCs and tablets with the pandemic forcing companies across the globe to seek work-from-home options.

“Our gaming PCs and our thin-and-light PCs actually grow margin faster than other products,” added Yang.

Yang expected a further 5% to 10% industry-wide increase of total addressable market for PCs next year.

Lenovo strengthened its lead in PCs with 25.7% of the market, ahead of HP Inc and Dell Technologies which had 21.6% and 15.2% share, respectively.