Lenovo Group: Third Quarter Results 2023/24 [Yahoo! Finance]
LENOVO GROUP LTD S/ADR (LNVGY)
NASDAQ:AMEX Investor Relations:
www3.lenovo.com/us/en/lenovo/investor_relations
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Source: Yahoo! Finance
HONG KONG, February 22, 2024 BUSINESS WIRE Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group'), today announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row. Net income was US$357 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS) [1] basis, with net income margin up 0.4% quarter-to-quarter to 2.3%. The Group's diversified growth engines continued to deliver strong performance, with revenue from non-PC businesses accounting for 42% of Group revenue, up 1.3 points year-on-year. The consistent quarter-to-quarter improvements over past quarters have been driven by the resilience of the Group's core businesses and the wider effectiveness of its ongoing transformation. The SSG business hit an important milestone of passing the US$2 billion revenue threshold, achieved a record high operating profit with
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