Lenovo Had Revenue and Profit Growth in 3Q18

Lenovo Had Revenue and Profit Growth in 3Q18

Foto: Depositphotos

For the third straight quarter, Lenovo achieved strong double-digit growth in revenue year-over-year.

The Group revenue reached US$13.4 billion, up 14% year-over-year (18% YOY excluding currency impact), reporting its highest quarterly revenue for nearly four years. The company also reported its second consecutive quarter of strong, pre-tax income of US$213 million, six times as much as the previous year (+US$178 million) as all businesses reported profit improvements.

In the second fiscal quarter, Lenovo’s profit attributable to equity holders grew to US$168 million, up US$91 million sequentially, and US$29 million year-over-year. Basic earnings per share in the second fiscal quarter was 1.41 US cents or 11.06 HK cents. Lenovo’s Board of Directors declared an interim dividend of 6.0 HK cents per share.

“Today’s results show that Lenovo’s focus on Intelligent Transformation continues to successfully underpin our growth in both revenue and profitability. But our numbers only tell part of our story. I’m proud of how we are delivering on both our transformation strategy and our turnaround promise. There is no doubt that Lenovo is in a period of strong, sustainable growth and I am confident that our clear mission, strategy and execution capabilities will continue to drive even stronger results in coming quarters.” said Yang Yuanqing, Lenovo Chairman and CEO.

The Intelligent Devices Group delivered a strong revenue growth of 10% year-on-year, amounting to US$11.84 billion. The PC and Smart Devices business  reported US$10.2 billion in revenue, up 18% YOY, the first time ever that this business has surpassed US$10 billion in revenue. Data Center Group reported its fifth consecutive quarter of profit growth on a 58% increase in revenue to US$1.5 billion.

More from category

Arm Presented Chipset Upgrades for Android

Arm Presented Chipset Upgrades for Android

30 May 2020 comment

Chip designing company Arm unveiled new processor designs that are boosting performance on Android devices.

Nokia Joins the Open RAN Policy Coalition

Nokia Joins the Open RAN Policy Coalition

29 May 2020 comment

Nokia joined the Open RAN Policy Coalition to help enable a comprehensive and secure approach to 5G and future network generations.

FedEx and Microsoft Extended their Partnership

FedEx and Microsoft Extended their Partnership

28 May 2020 comment

FedEx and Microsoft announced a new multiyear collaboration to help transform commerce.