Today, Lenovo Group announced its second-quarter earnings report for the 2018/19 fiscal year. The report shows that the Group’s business revenue for the quarter was $13.38 billion, an increase of 14%. The company’s second-quarter profit before tax reached $213 million, compared with the same period last year, an increase of $178 million. During the reporting period, the profit attributable to Lenovo shareholders increased to $168 million, an increase of $91 million from the previous month and an increase of $29 million from the same period last year.
Gizchina News of the week
Looking at the current figures, Lenovo has achieved double-digit year-on-year revenue growth for three consecutive quarters and hit its highest quarterly revenue in four years. According to the financial report, Lenovo Intelligent Equipment Group’s revenue for the quarter was $11.84 billion, a year-on-year increase of more than 10%, with the main growth coming from the PC and smart device businesses. The business contributed revenues of $10.2 billion in the second quarter, up 18% year-on-year, and the quarterly revenue of related businesses exceeded $10 billion for the first time. The PC business growth rate has also reached more than 20%.
On the day of the earnings announcement, many of Lenovo’s top executives were present. Yang Yuanqing, Chairman and CEO of Lenovo Group, Lan Qi, President and Chief Operating Officer of Lenovo Group, Huang Weiming, Executive Vice President of Lenovo Group, Liu Jun, Senior Vice President of Lenovo Group, Tong Fujun, Lenovo’s senior vice president and global chief strategic marketing officer and other executives attended the event.