Lenovo’s third-quarter revenue jumps 20% as PC industry recovers.
Chinese technology company Lenovo reported a 20% rise in third-quarter revenue on Thursday, as the global personal computer industry showed modest signs of recovery.
Lenovo, the world’s largest PC maker, reported revenue of $18.8 billion for the quarter ended December 31. That exceeded analysts’ expectations of $17.82 billion, LSEG data showed. The company’s net profit came in at $693 million, against 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 maintained its position as the largest PC vendor for the reported quarter, capturing a 24.5% market share with shipments growing by 4.8%, IDC data showed.
Lenovo’s infrastructure solutions group, which includes IT solutions like servers, saw a 59% revenue increase in the December quarter, compared with the previous year, driven by strong server demand.
The solutions and services group, which offers cloud-based software for enterprise clients, posted $2.3 billion in revenue, up 12% from a year earlier.
Source: FINANCE.YAHOO
