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China's Lenovo Group reported a 9% rise in fourth-quarter revenue to $13.8 billion, beating analyst estimates of $13 billion. This marks the second consecutive quarter of revenue growth for the company. Net profit for the quarter surged 118% year-over-year to $248 million, surpassing the expected $162 million. Lenovo's non-PC areas contributed significantly to this growth, accounting for a record-high 45% of the company's revenue in the fourth quarter, up from 42% the previous year. The company's Services and Infrastructure Solutions Groups both saw double-digit revenue growth, with managed services, project, and solution services up 55%. Lenovo North America president Ryan McCurdy expressed optimism about the company's performance, highlighting growth across all business segments and a strong focus on North American markets.
Wow, @Lenovo had a banger of a quarter. Wasn't expecting this at all as I compare to their peers. -Revenue +9.5%, NI +118% -all businesses had growth; record-high non-PC revenue of 45% -SSG (Services): Rev +10%; Managed svcs, project, solution services +55% (non-PC) -ISG (DC &… https://t.co/HLxzP95YI1
“I’m encouraged by the trend,” Lenovo North America president Ryan McCurdy says. “This is our second consecutive quarter of revenue growth and profit growth across all of our businesses. We’re really focused on our performance in North America against our competitors.” https://t.co/Azf2DUseyu
China's Lenovo Group reported a 9% rise in fourth-quarter revenue to $13.8 billion, as the world's largest maker of personal computers exits a demand slump following the aftermath of the COVID-19 pandemic https://t.co/dn2Oe4ysGE https://t.co/cpF2VA9CAc
