Lenovo Group Second-Quarter Net Rose, Supported by AI Investments

Dow Jones07:54

By P.R. Venkat

Lenovo Group sustained its growth momentum, supported by strong intelligent-device sales as it bets on AI-empowered PCs to fuel the next wave of demand for personal computers.

Net profit for the three months ended September rose 44% from a year earlier to $359 million, the world's largest PC maker said Friday, marginally beating the estimate of $355 million, according to a FactSet poll of analysts.

Revenue reached $17.85 billion, up 24%, driven by higher contributions from investments in AI as well as growth in personal computers and smartphones.

Lenovo has unveiled several AI-enabled PC models in recent months and has bet on the emerging tech to lead the global market to a long-term recovery and help its intelligent-devices segment, which includes PCs, smartphones and tablets, deliver better-than-industry growth and sustainable profitability.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

November 14, 2024 18:54 ET (23:54 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Venkat \n\n\n \n\n\n  Lenovo Group sustained its growth momentum, supported by strong intelligent-device sales as it bets on AI-empowered PCs to fuel the next wave of demand for personal computers. \n\n\n  Net profit for the three months ended September rose 44% from a year earlier to $359 million, the world's largest PC maker said Friday, marginally beating the estimate of $355 million, according to a FactSet poll of analysts. \n\n\n  Revenue reached $17.85 billion, up 24%, driven by higher contributions from investments in AI as well as growth in personal computers and smartphones. \n\n\n  Lenovo has unveiled several AI-enabled PC models in recent months and has bet on the emerging tech to lead the global market to a long-term recovery and help its intelligent-devices segment, which includes PCs, smartphones and tablets, deliver better-than-industry growth and sustainable profitability. \n\n\n \n\n\n  Write to P.R. 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