BEIJING (Reuters) -Lenovo ( LNVGF ) on Thursday reported a 20% rise in third-quarter revenue as the global personal computer industry showed signs of recovery.

The Chinese technology company, whose main business is making and selling personal computers, reported revenue of $18.8 billion for the quarter ended December 31. That exceeded analysts' expectations of $17.82 billion, LSEG data showed.

Net profit reached $693 million compared with analysts' estimate of $367.7 million.

The global PC market is still facing uncertainty following a post-pandemic slump, with shipments growing by a modest 1.8% during the fourth quarter of 2024, according to research group IDC.

Lenovo ( LNVGF ) maintained its position as the largest PC vendor for the quarter, capturing a 24.5% market share with shipments growing by 4.8%, IDC data showed.

The company has diversified beyond its core PC business in recent years, expanding into software and services. It has also positioned itself to benefit from the booming demand for artificial intelligence (AI) applications by growing its AI server and software businesses.