Lenovo Posted Upbeat 1Q Results; Raising Our FVE to HKD 5.70
No-moat Lenovo posted an upbeat fiscal first-quarter result (ended in June) that exceeded the market’s and our expectations, helped by the company’s efforts in transformation and cost control over the past several quarters. Revenue grew 19% year on year to $11.9 billion and pretax profit was $113 million, up $182 million from the year-ago quarter. While the personal computing and smart device, or PCSD, business continued to deliver industry-leading profitability and healthy cash flow, the losses...Lenovo Group is an investment holding company. Through its subsidiaries, Co. is engaged in: manufacturing and distribution of IT products and provision of IT services; manufacturing of computers and peripheral equipment; provision of business planning, management, global supply chain, finance, and administration support services; R&D of mobile software; and distribution of IT products as well as mobile phone, smart phone and tablet, server and storage. Co. also provides a full complement of ENERGY STAR® qualified notebooks, desktops, workstations, monitors, and servers. As of Mar. 31, 2015, Co. oeprated four geographical segments, China, Asia Pacific, Europe-Middle East-Africa and Americas.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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