Home / Business and Economy / Lenovo Profit Dips 21%, Beats Expectations on Strong Revenue
Lenovo Profit Dips 21%, Beats Expectations on Strong Revenue
12 Feb
Summary
- Lenovo's third-quarter profit decreased by 21% to $546 million.
- Revenue surged 18% year-on-year, reaching $22.2 billion.
- AI-driven demand contributed significantly to strong revenue growth.
In the three months concluding December 31, Lenovo Group reported a 21% decline in net profit, with earnings falling to $546 million. Despite this decrease, the company exceeded financial analyst forecasts. Lenovo's revenue experienced robust growth, climbing 18% from the previous year to $22.2 billion, surpassing projections of $20.6 billion. This revenue surge was significantly bolstered by increasing demand related to artificial intelligence technologies. Furthermore, adjusted net profit, which accounts for exceptional and non-cash items, demonstrated a substantial increase of 36%, reaching $589 million. These results highlight Lenovo's ability to navigate margin pressures through strong top-line performance.
