Company briefs: Lenovo
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Nvidia.
PHOTO: REUTERS
Lenovo
China's Lenovo Group yesterday posted a better-than-expected rise of 512 per cent in fourth-quarter profit, as more consumers working and studying from home powered demand for the world's biggest maker of personal computers.
Profit for the quarter ended March 31 jumped to US$260 million (S$344 million), above an average estimate of US$204.7 million from seven analysts, according to Refinitiv data.
Revenue rose 48 per cent to US$15.63 billion from US$10.58 billion a year earlier. Analysts expected revenue of US$14.33 billion.
REUTERS
Nvidia
Nvidia, the largest US chipmaker by market value, gave a bullish forecast on demand for chips used in gaming PCs, data centres and cryptocurrency mining.
Revenue in the current quarter will be about US$6.3 billion (S$8.3 billion), plus or minus 2 per cent, the California-based company said on Wednesday.
The sales prediction compares with a US$5.49 billion average analyst estimate, according to data compiled by Bloomberg.
The company expects demand and orders from gamers to continue to improve into the second half of the year.
BLOOMBERG
Morgan Stanley
The investment bank is closing its Indonesian onshore institutional equities trading business.
It said in a statement yesterday it "intends to cease its onshore broker-dealer activities in Indonesia. The firm remains committed to Indonesia and will continue to provide our global clients access to the equity market working with qualified local brokerage partners".
Sources familiar with the decision said the move will affect about 10 roles and the investment bank will carry out sales, trading and research functions from its South-east Asian hub of Singapore.
REUTERS
