Lenovo bullish on FY view after record quarter

Chinese tech giant Lenovo Group Ltd said on Thursday that it remains positive about its performance for the rest of the year and is well-positioned to capitalize on the market trends of information consumption upgrade, infrastructure upgrade and application upgrade.

The company said its optimism was boosted after it recorded the fastest-growing earnings in almost a decade during the fiscal fourth quarter that ended in March.

Yang Yuanqing, chairman and CEO of Lenovo, said the company's revenue from January to March grew 48 percent on a yearly basis to $15.6 billion on the back of growth across all of its businesses. Lenovo also reported the highest profit growth rate in two years, with pretax income of $380 million and net income of $260 million, up 392 percent and 512 percent, respectively.