Lenovo Group's second-quarter revenue was $14.41 billion, with quarterly sales up 12%.
On November 16, Lenovo Group released its interim results for the 2023/24 financial year on the Hong Kong Stock Exchange.
Lenovo Group recorded a 12% quarter-on-quarter sales growth in the fiscal second quarter, exceeding the average growth rate of 9% over the past decade, and all business groups showed a good recovery trend. Profit attributable to equity holders decreased by 60% year-on-year to US$426 million as revenue decreased 20% year-on-year in the first half of the fiscal year.
According to the data, the revenue and operating profit of the Solution Services business group increased by 14% and 7% respectively year-on-year.
The Smart Devices Group strengthens its leadership position in the global PC market and closes the market share gap between the two major competitors. In the second financial quarter, the operating profit margin of the Smart Devices Group increased to 7.4%, close to a record high, driven by new product launches and efficiency improvements. Revenue and operating profit decreased by 22% and 28% respectively year-on-year in the first half of the financial year, partly due to the high base period effect.
Infrastructure Solutions Group revenue decreased 17% year-over-year to an operating loss of $114 million, primarily due to lower industry-wide IT spending.
On the market, as of midday, Lenovo Group fell 3.58% to HK$9.43.
