China's Lenovo quarterly profit more than doubles

Lenovo's earnings top off a string of better-than-expected results from technology peers such as Microsoft and Google, reaffirming a return in demand and raising hopes that consumer and corporate spending is picking up again. Lenovo said it made a $53.08 million net profit in July-September, beating market expectations for a $24.5 million net profit, according to a poll by Thomson Reuters I/B/E/S.

It was also more than double the $23.4 million net profit reported a year earlier.

The company's results came after the Hong Kong stock exchange closed on Thursday. Its shares have more than doubled so far this year, beating a 49 percent advance on the benchmark Hang Seng index .HSI.

(Reporting by Kelvin Soh; Editing by Anshuman Daga and Chris Lewis)