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Lenovo logs record profit in Q3, beats forecasts
China's Lenovo Group, on track to become the world's top maker of personal computers, reported a record quarterly profit, up by a third from a year earlier, as it gained more share in the PC market and made inroads in the smartphone business. The ThinkPad maker, also China's No. 2 smartphone vendor, said on Wednesday net profit in its October-December third quarter had risen to $204.9 million. That beat the average estimate of $178.4 million in a Thomson Reuters I/B/E/S poll of 11 analysts and exceeded its previous record of around $172 million in the three months ended December 2007. In the third quarter, overall revenue grew 12% from a year earlier to $9.4 billion, but the bulk of that still came from its PC business.
Cancer drugs give Roche modest 2012 profit boost
Growing demand for its cancer medicines and diagnostic tests used by clinical laboratories helped Swiss drug maker Roche Holding post a modest 2.4% increase in full-year profits. The Basel-based company said on Wednesday that it made a net profit of 9.77 billion Swiss francs ($10.6 billion) in 2012, against 9.54 billion francs the year before, and that it anticipates further gains this year. The company, which is the world's biggest manufacturer of cancer drugs, said it delivered strong results for 2012 in part due to the launch of its new breast cancer medicine, Perjeta, in the US and Europe. Overall sales were up 4% at 45.5 billion francs ($49.2 billion). "We met our financial targets, grew faster than the market, and our strong pipeline positions us well for further growth," said Roche chief executive officer Severin Schwan.
Chrysler 2012 profit jumps on higher sales
Chrysler says its profit jumped to $1.7 billion in 2012 as sales rose 18%. Chrysler's profit was nine times higher than the $183 million recorded in 2011. The results mark another step in Chrysler's remarkable turnaround. The company went bankrupt during the US recession in 2009 and needed a $12.5-billion loan from taxpayers to survive. The No. 3 US automaker sold 2.2 million cars and trucks worldwide last year. Revenue increased 20% to $65.8 billion. Chrysler expects its net income to rise to around $2.2 billion this year, on revenue of between $72 billion and $75 billion.
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