Lenovo Reports 20% Revenue Growth as PC Market Rebounds

The company posted $18.8 billion in Q3 revenue, surpassing expectations, with strong contributions from AI and non-PC segments.

Lenovo's Q3 revenue rose 20% year-on-year to $18.8 billion, exceeding analysts' expectations of $17.82 billion.
Net profit more than doubled to $693 million, supported by a $282 million non-recurring income tax credit.
The company's diversification efforts led to non-PC revenue accounting for 46% of the total, up four percentage points from last year.
Lenovo maintained its position as the largest PC vendor with a 24.5% market share, as global PC shipments grew modestly by 1.8% in Q4 2024.
Growth was driven by Lenovo's hybrid-AI strategy, infrastructure solutions turnaround, and double-digit gains in Intelligent Devices and Solutions and Services groups.