China's Lenovo Group (Pink: LNVGY), the No. 2 PC maker, reported first-quarter net income jumped 30 percent , ahead of estimates, as global revenue rose 35 percent - far better than performance for its U.S. rivals, Hewlett-Packard Co. (NYSE: HPQ) and Dell (Nasdaq: DELL), the No. 3 PC maker.
Lenovo said net income was $141.4 million, of $1.37 a share, compared with $108.8 million a year earlier, while revenue was a record $8 billion.
The lion's share of Lenovo's sales came from China, which accounted for $3.5 billion in revenue. North American revenue rose 7 percent to $1.2 billion.
During the quarter, Lenovo's revenue pushed it into the No. 2 PC spot ahead of Dell and only slightly behind HP, IDC reported. Part of Lenovo's gains are attributable to its acquisition of the PC business of Japan's NEC Corp. (Tokyo: 6701).
Lenovo acquired the PC operation of International Business Machines Corp. (NYSE: IBM) in 2005. Its American Depositary Receipts traded at $15.92, unchanged, early Thursday.