Lenovo’s quarterly profit doubled

Profit excluding one-time items rose 22 percent to $389 million from $320 million. Pre-tax profit rose 99 percent to $622 million from $313 million.

Lenovo’s revenue rose 22 percent to a record $18.83 billion.

Analysts’ average forecast was for a lower profit after tax of $337 million and revenue of $17.1 billion.

The Intelligent Device Group (IDG), a key revenue driver, which includes PCs, tablets and smartphones, saw sales grow 18 percent to $13.5 billion. The Infrastructure Solutions Group (ISG), which provides “intelligent” infrastructure solutions to businesses, saw revenue grow 36 percent to $4.3 billion. The Solutions & Services Group (SSG), which encompasses all Lenovo IT solutions and services, saw revenue grow 20 percent to $2.3 billion.