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Lenovo Surpasses Revenue Expectations, Eyes AI PCs for Major Growth

The world's largest PC maker reports strong quarterly performance, driven by AI and infrastructure solutions.

A Lenovo Group store in Hong Kong, May 18, 2024. Photo: Bloomberg
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Overview

  • Lenovo's revenue rose 9% year-on-year to $13.8 billion in the March quarter, beating analyst estimates.
  • Net income doubled to $248 million, marking the company's second consecutive quarter of growth.
  • The company is focusing on AI PCs, predicting they will become mainstream within three years.
  • Lenovo's infrastructure solutions group reported a 15% increase in revenue due to high demand for AI infrastructure.
  • Despite a full-year revenue drop, Lenovo expects AI servers to grow twice as fast as the broader market.