Lenovo Posts Worse-Than-Expected FY Q4 Loss

In the latest sign of weakness in the PC sector, Lenovo Group (LNVGY.PK) posted worse than expected results for its fiscal fourth quarter ended March 31. The company reported revenue of $2.8 billion, down 25.8% from a year ago, with a loss of $264 million, which as Reuters notes was a larger loss than analysts had expected. The company earned $140.4 million in the year ago quarter; the Street had expected a loss of $186 million. In Hong Kong trading , the stock is down almost 4%. (link)