Lenovo Group Ltd, the world's third largest PC maker, today announced healthy first quarter revenue of $3.9bn, up 13 per cent. The Chinese firm said in a statement to the Hong Kong stock exchange that net income for the three months ended 30 June had leapt to $66.8m, or 0.74 cents a share, from $5.2m, or 0.06 cents a year …
13 fold != 13 percent
2 fold = times 2, 3 fold = times 3. At least that's what I got taught.
In UK speech . . .
That's sales up 13%, profits up 13-fold. Article misread, not mis-written, Patrick Ernst.
13-fold does not relate to the 13 per cent figure
This should already be clear from the story, but just to repeat:
The 13 per cent figure refers to Lenovo's total Q1 revenue.
The 13-fold increase is the firm's net income which now stands at $66.8m, up from last year's $5.2m.
This why I'm not an accountant
"net income for the three months ended 30 June had leapt to $66.8m, or 0.74 cents a share, from $5.2m"
Yup. finally got the right info - embedded in the story, where you actually have to *read* it. :-)
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