BEIJING (Reuters) -China's Lenovo ( LNVGF ) on Thursday reported a 64% decline in fourth-quarter profit, which it said was mostly due to a non-cash decline in the value of warrants.

Lenovo ( LNVGF ), the world's largest personal computer manufacturer, reported revenue of $16.98 billion for the quarter ended March 31. The figure 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 analysts' estimate of $225.8 million.