Posted 2/22/2024, 4:10:43 AM
Lenovo Q3 Revenue Rises 3% Year-on-Year to $15.7B Driven by Diversification and Resilient Core Businesses
- Lenovo resumed year-on-year revenue growth in Q3 driven by resilient core businesses and effective transformation
- Hit $15.7B in revenue, up 3% YoY; net income $357M and margin 2.3%, improving quarter-to-quarter
- Non-PC businesses now 42% of revenue, up 1.3 pts YoY; SSG passed $2B revenue threshold
- Continuing investments in AI innovation with R&D headcount up 25% YoY; launched new AI offerings and partnerships
- IDG shipped 24% worldwide PC market share, gaining share YoY; smartphone shipments up 32% YoY