Record-Breaking Revenue and Growth
Lenovo achieved a record high first quarter revenue of USD 18.8 billion, a robust 22% year-on-year increase. Net income on a non-Hong Kong FRS basis also increased 22% year-on-year, and on a Hong Kong FRS basis, net income more than doubled year-on-year, reaching over USD 500 million.
PC Business Performance
Lenovo's PC business delivered over 20% revenue growth, the fastest pace in 15 quarters, and secured a record high global market share of 24.6%.
Infrastructure Solutions Group Growth
The Infrastructure Solutions Group delivered a solid 36% year-on-year revenue growth. AI infrastructure business doubled its revenue year-on-year, and revenue from liquid cooling solutions grew 30% year-on-year.
Solutions & Services Group Success
The Solutions & Services Group achieved a record revenue quarter, growing 20% year-on-year with more than a 22% operating margin. Bookings in TruScale Infrastructure-as-a-Service surged with triple-digit year-on-year growth.
Strong Liquidity and R&D Investment
Cash flow from operations reached $1.2 billion, and R&D investment increased by 10% year-on-year to USD 524 million, reinforcing long-term commitment to innovation.