Record-Breaking Revenue and Growth
Lenovo achieved a record high first quarter revenue of USD 18.8 billion, marking a 22% year-on-year increase. Net income on a non-Hong Kong FRS basis also increased by 22% year-on-year, and on a Hong Kong FRS basis, net income more than doubled year-on-year to over USD 500 million.
PC Business Performance
The PC business delivered over 20% revenue growth, the fastest pace in 15 quarters, with a record high global market share of 24.6%. AI PC penetration now accounts for more than 30% of Lenovo's total PC shipments.
Infrastructure Solutions Group (ISG) Growth
ISG delivered a 36% year-on-year revenue growth. The AI infrastructure business doubled its revenue year-on-year, and revenue from liquid cooling solutions grew 30% year-on-year.
Solutions & Services Group (SSG) Success
SSG achieved a record high quarterly revenue, growing 20% year-on-year with more than 22% operating margin. Managed Services and Projects & Solutions businesses drove their combined mix to nearly 60% of SSG's total revenue.
Strong Global Market Performance
Revenue in the PRC surged by 36% year-on-year. In the Americas, PC market share gains were noted for the ninth consecutive quarter, and in EMEA, record bookings in Device-as-a-Service and software solutions were achieved.