Lenovo Shares Rebound to Record High as First-Quarter Profit Jumps 176%
Lenovo Group shares opened lower, fell more than 4% intraday, then rebounded to gain over 3%, hitting a record high. The previous session saw the stock close up over 20%. The company reported first-quarter adjusted profit attributable to equity holders surged 176% year-on-year, breaking above $1 billion for the first time.
Lenovo Group shares opened lower and then rallied, at one point falling more than 4% during the session before rebounding, with the stock now up more than 3% and hitting a fresh record high. In the prior trading day, the shares closed up sharply by over 20%. The company's first-quarter results showed adjusted profit attributable to equity holders rose 176% year-on-year, surpassing the $1 billion mark for the first time.