Lenovo Reports Third Straight Quarter Of Double-Digit Growth
Blocks&Files, Friday, February 21st, 2025
Lenovo reported its third consecutive quarter of double-digit revenue growth, with all three business units contributing at double-digit levels.
Revenues in the quarter ending December 31, 2024 were $18.8 billion compared to the year-ago $15.5 billion, with an HKFRS profit of $693 million - 106 percent higher than a year ago. The PC-selling Intelligent Devices Group (IDG) brought in $13.8 billion, up 12 percent. $3.9 billion flowed in from the turned-around Infrastructure Solutions Group (ISG), a 59 percent rise for its servers, storage, and so on. The SSG (Services and Solutions Group) was responsible for a 13.8 percent rise to $2.3 billion. Lenovo's cash balance grew 14 percent year-on-year to $3.93 billion.