Lenovo Group’s quarterly revenue jumped 43% to US$26.94 billion, its strongest growth in five years, as surging demand for artificial intelligence hardware and solid PC sales helped the Chinese technology giant beat market expectations.
Revenue for the three months ended June 30 exceeded analysts’ US$22.3 billion forecast, while AI-related revenue climbed 60% year-on-year to US$9.3 billion, accounting for 35% of total revenue. Its PC, tablet and smartphone division also recorded 27% revenue growth.
The strong showing comes despite a worsening global memory chip shortage that has pushed up costs and pressured PC shipments. Lenovo retained its lead in the global PC market with a 25.6% share in the second quarter, even as worldwide shipments fell 2% year-on-year to 16.6 million units.
Its AI server pipeline also surged 157% quarter-on-quarter to US$54 billion, signalling continued demand from hyperscalers, AI cloud providers and enterprise customers.
However, Lenovo swung to a US$609 million net loss attributable to shareholders from a US$505 million profit a year earlier. The company attributed the loss mainly to a non-cash fair value loss of US$1.7 billion from the revaluation of warrants issued in 2025.
Adjusted net income, excluding one-off items and non-cash charges, more than doubled to US$1.075 billion.
Reuters
