Lenovo records historic quarterly growth


Lenovo Chairman and Chief Executive Officer, Yuanqing Yang

JOHANNESBURG, (CAJ News) LENOVO has announced record quarterly results, with historic highs for profit and revenue as well as the Group’s first US$20 billion quarter.

Net income grew at a rate of over 50 percent for the sixth consecutive quarter, with third quarter (Q3) 2021 growing 62 percent year-on-year to a record $640 million.

Net income margin improved by nearly one point, on track towards the Group’s goal of doubling in three years.

Pre-tax income was a record $855 million, up 45 percent year-on-year.

Group revenue continued its strong growth pattern, hitting a record $20,1 billion, up 17 percent year-on-year.

Yuanqing Yang, Chairman and Chief Executive Officer, said Lenovo continued to embrace the opportunities driven by accelerated digital and intelligent transformation.

“Our New IT architecture prepared us well with ‘client-edge-cloud-network-intelligence’ capabilities,” he stated.

Yang said the company remained on track to double its net margin and research and development (R&D) investment in three years from 2020/21 levels.

“Once again, we have shown that Lenovo’s innovation, transformation strategy, and strong execution can consistently deliver sustainable profitability increases for the future,” the executive stated.

– CAJ News






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