Lenovo shares jumped more than 15 percent after it posted strong results helped by growth in its AI business.
CNBC reported on May 22 that Lenovo posted revenue of $21.6 billion in the latest quarter, up 27 percent from a year earlier.
It marked the company’s fastest growth in five years. Net profit rose nearly sixfold from a year earlier to $521 million. Annual results also hit a record high.
The standout area was AI-related revenue. In the latest quarter, AI revenue including PCs and smartphones with NPUs, GPU servers and related services jumped 84 percent, accounting for more than one-third of group revenue.
Lenovo Chairman and CEO Yuanqing Yang (양위안칭) said it aims to become a $100 billion revenue company within 2 years. Lenovo’s current market capitalisation is about $24 billion.
The company said Lenovo is focusing on a "hybrid AI strategy". It is concentrating on personal AI across devices and an enterprise AI business that helps customers use data to create business value. Lenovo posted a 24.4 percent share of the global PC market in the latest quarter.
Chi-gyu Hwang
delight@d-today.co.kr