May 26, 2016 / 8:31 AM / a year ago

China's Lenovo swings to full-year loss, misses analyst estimates

HONG KONG, May 26 (Reuters) - China’s Lenovo Group Ltd on Thursday reported its first loss in six years, missing analyst estimates, with earnings pulled down by acquisition and restructuring costs as well as weak sales of smartphones and personal computers (PCs).

The world’s biggest PC maker booked a net loss of $128 million for the business year ended March, from $829 million profit a year earlier. The result compared with the Thomson Reuters SmartEstimate loss of $123.6 million.

Revenue fell 3 percent to $44.9 billion. In the fourth-quarter alone, revenue fell 19 percent. (Reporting by Clare Jim and Yimou Lee; Editing by Christopher Cushing)

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