Lenovo reports strong Q1 earnings with revenue hitting record high

Lenovo (0992) said its net profit in the first quarter ended June more than doubled to US$505 million (HK$3.94 billion), thanks to rcord-hitting revenue.

Revenue surged 21.9 percent to US$18.83 billion, setting a new record for the company’s first-quarter performance and surpassing its previous peak during the pandemic.

The revenue growth was led by strong performance across all business segments, particularly in infrastructure and services.

The intelligent devices group, which includes PCs and smart devices, reported a 17.84 percent increase year-on-year in revenue to US$13.46 billion, with operating profit rising 14.73 percent to US$950 million.

The infrastructure solutions group, covering servers and data center products, saw revenue jump 35.77 percent to US$4.29 billion, but its operating loss widened to US$85.52 million, compared with a US$37.27 million loss a year earlier.

STAFF REPORTER