Lenovo Stock Jumps 20% After Record $27B Revenue Quarter
TLDR
- Lenovo posted record quarterly revenue of $26.9 billion, up 43% year-on-year, crushing the $22.3 billion analyst estimate
- Adjusted net income surged 176% to $1.1 billion, crossing that threshold for the first time
- AI-related revenue hit $9.3 billion, up 60% year-on-year, representing 35% of total group revenue
- The Infrastructure Solutions Group nearly doubled revenue to $8.5 billion, with the AI server pipeline expanding to $54 billion
- Hong Kong-listed stock jumped 20.25% to HK$34.92 on the earnings news
Lenovoโs stock surged 20% in Hong Kong trading on Thursday after the company reported its strongest quarter on record, with revenue of $26.9 billion for the three months ended June 30. Hong Kong-listed stock hit HK$34.92 by early morning in Europe.
The result blew past the analyst consensus of $22.3 billion. The 43% year-on-year jump in revenue came alongside adjusted net income of $1.1 billion, up 176% from the same period last year and the first time Lenovo has crossed the $1 billion adjusted profit mark in a single quarter.
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