China's Lenovo reports 64% profit decline in fourth quarter

BEIJING (Reuters) -China's Lenovo, the world's largest personal computer manufacturer, on Thursday reported a worse-than-expected 64% fall in fourth-quarter profit, which it said was mostly due to a non-cash decline in the value of warrants. Lenovo reported revenue of $16.98 billion for the quarter ended March 31, which exceeded analysts' expectations of $15.6 billion, LSEG data showed. Net profit to the company's owners came in at $90 million, well short of the average analyst estimate of $225.8 million, according to LSEG data.