Lenovo’s net profit up 59%, and its net income up 65%

The Lenovo’s profits are up 59% during the second quarter of fiscal year 2022 of the company. It is one of the data that emerges from the results published by the company, which reflect net profits after taxes of 557 million dollars, a figure that rises sharply compared to the 350 million dollars obtained during the same period of the year. last.

In addition, Lenovo has achieved net income for the period of $ 512 million, up 65%. Regarding their gross income in the period, they were 17.9 billion of dollars. Record results for the company, which it attributes to its focus on its transformation strategy, despite the problems that are being experienced throughout the sector in the supply chain.

The group’s Solutions and Services division (SSG) grew 30% year-on-year in revenue to $ 1.36 billion, 7.3% of Lenovo’s total revenue for the quarter. As for its Smart Devices Group, it continued to see growing demand for PCs and other equipment, something Lenovo has attributed to the recovery in business demand. As a result, the division’s revenue has risen 21% year-on-year to $ 15.3 billion.

As for the company’s Infrastructure Solutions Group, it made almost 2 billion in total. According to Lenovo, the division has performed well in virtually all of its areas, including cloud service delivery, enterprise and SMB, storage and high-performance computing.

During the reported quarter, Lenovo’s research and development investment rose nearly 60% year-on-year to $ 482 million as the company continued to increase its investment in innovation.

Yuanquing Yang, CEO and President of Lenovo, has highlighted that «The new “Network-Cloud-Edge-Client Intelligence” IT technology architecture is advancing faster and is gaining acceptance in the industry. Through the strong execution of our 38 strategy (Smart Devices / IoT, Smart Infrastructure, Smart Vertical), last quarter both our net income and our gross income reached new records, and we are poised to double our net margin in three years. In addition, our investment in research and development has risen a lot, almost a 60%. Going forward, we will continue our goal of doubling R&D investment every three years, and further driving our intelligent service-driven transformation. ‘

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