Lenovo’s Revenue Tops Estimates in Sign of Strong AI Demand

Lenovo Group Ltd. posted better-than-expected quarterly revenue thanks to its increased market share in global PCs and robust demand for AI servers.

Revenue in the September quarter rose 15% to $20.5 billion, above analysts’ average estimate of $20.1 billion. Net profit slid 5%. Lenovo grew PC shipments 17.3% in the July to September period and expanded its market share, outpacing global rivals including HP Inc. and Dell Technologies Inc., according to consultancy IDC.