Lenovo Resumes Year-On-Year Revenue Growth - Performance Driven By Resilience Of Core Businesses And Effectiveness Of Transformation
Lenovo News, Thursday, February 22nd, 2024
Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row.
Net income was US$357 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)'1' basis, with net income margin up 0.4% quarter-to-quarter to 2.3%. The Group's diversified growth engines continued to deliver strong performance, with revenue from non-PC businesses accounting for 42% of Group revenue, up 1.3 points year-on-year.
The consistent quarter-to-quarter improvements over past quarters have been driven by the resilience of the Group's core businesses and the wider effectiveness of its ongoing transformation.