Lenovo’s Revenue Climbs as AI Demand Helps Offset a PC Slump
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Lenovo Group Ltd. posted a faster-than-anticipated 20% jump in quarterly revenue thanks to demand for AI computing infrastructure, which helped offset a persistent funk clouding the global PC market.
The world’s largest PC maker posted sales of almost $18.8 billion, surpassing the $17.9 billion average estimate. Net income more than doubled to $692.7 million in the December quarter, though a chunk of that came from a one-time gain of $282 million from deferred tax credits. Its shares slid more than 4% in Hong Kong, mirroring a broad market slump.