Cost Cuts Push Lenovo Profit Up 198 Percent
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In 2008, Lenovo expects double-digit sales growth despite a possible U.S. slowdown, due to its bigger presence in faster-growing markets such as China and India.
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(InfoWorld) - Intel said its quarterly profit rose 44 percent over last year, reaching $1.3 billion as low selling prices for its microprocessors were offset by higher than expected unit shipments. The results came despite an ongoing price war as Intel and rival AMD struggle for larger shares of the processor market. Both companies have been cutting prices on their chips as they upgrade their products from standard chips to dual-core and quad-core processors. Intel is also in the final stages of a corporate reorganization that included the layoffs of thousands of workers in 2006, and at least 1,800 more layoffs planned for August. The company incurred restructuring charges of $82 million during the most recent quarter as it continued to adjust to the changes, Intel said on Tuesday. Despite those challenges, Intel earned $0.22 per share on revenue of $8.7 billion for the quarter ending June 30, beating Wall Street expectations that the company would earn $0.19 per share on revenue of $8.54 billion, according to analysts polled by Thomson Financial. Intel also beat its own mark from the second quarter of 2006, when it earned $0.15 per share on revenue of $8.01 billion.
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By Mark Lee  Shares of Lenovo Group, the maker of personal computers, rose Tuesday after a report said that the company might cut 1,000 jobs to reduce costs.  The stock rose 1.3 percent to 3.13 Hong Kong dollars, or 41 U.S.
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International Business Machines  Corp. IBM.N on Tuesday posted a quarterly net profit that  beat Wall Street's recently raised profit target as solid  year-end product sales were buoyed by a weaker U.S. dollar.
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Healthy sales of software and technology services helped fourth-quarter profit rise 12 percent at International Business Machines Corp., which had already disclosed that the results would be way ahead of analysts' forecasts.
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Waves goodbye to Mary Ma, says hello to US Chinese computer firm Lenovo said its profits grew by more than 600 per cent in the fourth quarter.â¦
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Intel Corp. said Tuesday its second-quarter profit jumped 44 percent on strong sales of microprocessors even as the company faced fierce competition that pushed prices lower.
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Major Japanese electronics makers reported better earnings in the three months that ended in September Thursday as cost cuts pushed up profitability and demand surged for new digital products.
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Wal-Mart Stores Inc.  on Tuesday posted higher quarterly profit after the world's biggest retailer cut prices on hot items like toys and electronics to lure customers during the holiday shopping season.
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The company said third-quarter profit rose more than expected, boosted by higher aircraft deliveries, but it scaled back next yearâs forecast due to delays on its 787 Dreamliner.
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China's largest computer maker Lenovo Group has reported a sharp fall in profit for the first quarter as it struggles to recover from the loss-making PC business it bought from IBM.
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Johnson Controls Inc. reported a 20 percent increase in profit for fiscal 2004, posting net income of $817.5 million, or $4.24 per share, compared with $675.
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Computer server and software maker IBM said Monday its fourth-quarter earnings from continuing operations rose 24 percent from a year ago, beating Wall Street expectations by a wide margin.
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Wal-Mart Stores Inc.  on  Tuesday posted higher quarterly profit after the world's  biggest retailer cut prices on hot items like toys and  electronics to lure customers during the holiday shopping  season.
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IBM , the world's largest technology services company, on Wednesday posted a 12 percent jump in quarterly profit and raised its 2007 earnings forecast as revenue surged on software-company acquisitions.
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Flextronics , the world's largest contract electronics manufacturer, posted on Tuesday a jump in quarterly profit from a year ago, when results were weighed down by charges.
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Lenovo, the world's third-biggest personal-computer maker, returned to profit in the fourth quarter. Net income was $60.1 million in the three months that ended March 31, compared with a $116 million loss a year earlier.  (c) 2007 International Herald Tribune.