NC-LENOVO-NCTA
Lenovo Group (HKSE: 0992) (PINK SHEETS: LNVGY) today announced group revenue in the first quarter reached US$12.5 billion, the eighth consecutive quarter of growth. Pre-tax income more than doubled year-on-year, growing by US$127 million to reach US$240 million. Net income also more than doubled, up US$85 million to US$162 million.
Basic earnings per share for the first quarter were 1.37 US cents or 10.74 HK cents.
“This fiscal year kicked off to an excellent start. Once again, this quarter’s strong results provided solid evidence that Lenovo’s Intelligent Transformation is enabling the company to drive sustainable, profitable growth in today’s dynamic and changing world. Our persistent execution and operational efficiency allows us to bring our vision to life and deliver smarter technology for all,” said Yang Yuanqing, Lenovo Chairman and CEO.
Global trade environment
The first quarter results signal that Lenovo continues to thrive – outperforming the market and leading the global tech sector in spite of industry-wide geopolitical and trade uncertainties. Lenovo is positioned better than most given a globally balanced revenue mix, footprint across 180 markets, and more flexible majority-owned manufacturing base. To date there has been negligible material impact on the business. Looking ahead, the global scale and breadth of the business ensures Lenovo is well positioned to manage complex and dynamic market conditions, while delivering sustainable long-term results.
Business Group Overview
The strong results are led by the Intelligent Devices Group (IDG). The PC and Smart Devices Group (PCSD), one of its two business units, continued double-digit (12%) revenue growth while achieving its highest-ever profit in a fiscal first quarter, and further improving industry leading profitability. Pre-tax income was US$524 million, up US$98 million. Americas and Asia Pacific achieved 20% and 40% year-on-year revenue growth respectively and all four geographies (Americas, Asia Pacific, China, EMEA) each delivered over US$2 billion in revenue, demonstrating the geographical balance and sustainability of this business.
In PCs, volume outgrew the market, which as a whole is experiencing a recovery, by over 13 points, and the group hit an all-time record PC market share of 24.9%. This means one in every four PCs built in the world is a Lenovo PC – cementing Lenovo’s position as the worldwide number one in PCs.
These strong results are driven by innovation, a customer-centric product portfolio and continuing focus on operational excellence. This strategy enables the company to outgrow the market significantly across high-growth and premium categories including Workstation, Thin and Light, Visuals, Gaming PCs and Chromebook. Looking forward, the PC and Smart Device group will continue to drive premium-to-market growth and industry-leading profitability by focusing on premium segments as well as innovating in Smart IoT, commercial Smart IoT and developing new devices for homes and offices.
IDG’s second business unit, the Mobile Business Group (MBG), delivered another profitable quarter and improved pre-tax income by US$100 million for the 4th consecutive quarter. In the North America market, volume outgrew the market by more than 37 points and pre-tax income margin improved by over 14 points year-on-year. In the company’s Latin America stronghold, volume has grown with or above the market for 11 quarters.
Going forward, the mobile business will continue to maintain profitability and seek opportunities to drive profitable growth in new markets with new innovative products.
The Data Center Group (DCG) continued to improve profitability year-on-year for the eighth consecutive quarter. Storage revenue grew more than 80% year-on-year and Software Defined Infrastructure (SDI) continued to grow at a double-digit rate year-on-year. Overall revenue declined due to a small number of large cloud customers reducing their purchasing after rapid infrastructure growth over the past year and a lower average unit revenue due to declining component prices. In High Performance Computing the company extended the Number 1 position in the Top 500 Supercomputer list to 173 systems across 20 markets – continuing to support ground-breaking scientific research and applications around the world.
The group will continue to expand as a full stack Data Center player, driving SDI, storage, networking, HPC, AI, IoT, service and solution led sales while strengthening in-house design and manufacturing capability for Hyperscale. In addition, the business will further improve routes-to-market and operational excellence to achieve premium to market growth, while improving profitability.
About Lenovo
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$50 billion Fortune Global 500 company, with 57,000 employees and operating in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that create a more inclusive, trustworthy and sustainable digital society. By designing, engineering and building the world’s most complete portfolio of smart devices and infrastructure, we are also leading an Intelligent Transformation – to create better experiences and opportunities for millions of customers around the world. To find out more visit https://www.lenovo.com , follow us on LinkedIn , Facebook , Twitter , YouTube , Instagram , Weibo and read about the latest news via our StoryHub .
LENOVO GROUP
FINANCIAL SUMMARY For the first quarter ended June 30, 2019 (in US$ millions, except per share data) |
||||
|
|
|
Q1 18/19 |
|
Revenue |
|
12,512 |
11,913 |
5% |
Gross profit |
|
2,048 |
1,632 |
26% |
Gross profit margin |
|
16.4% |
13.7% |
2.7pts |
Operating expenses |
|
(1,705) |
(1,452) |
18% |
Expenses-to-revenue ratio |
|
13.6% |
12.2% |
1.4pts |
Operating profit |
|
343 |
180 |
90% |
Other non-operating expenses - net |
|
(103) |
(67) |
52% |
Pre-tax income |
|
240 |
113 |
113% |
Taxation |
|
(48) |
(28) |
75% |
Profit for the period |
|
192 |
85 |
125% |
Non-controlling interests |
|
(30) |
(8) |
259% |
Profit attributable to equity holders |
|
162 |
77 |
111% |
EPS (US cents) |
|
|
|
|
Basic |
1.37 |
0.65 |
0.72 |
|
Diluted |
1.32 |
0.65 |
0.67 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20190814005796/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Binarly to Unveil “Broken Trust” Research: Firmware Bypass Chains, BMC Persistence, and EDR Evasion15.1.2026 23:04:00 CET | Press release
Binarly, the industry leader in software and firmware supply-chain security, today announced an upcoming DistrictCon presentation “Broken Trust: Firmware Bypass Chains, BMC Persistence, and EDR Evasion.” The session will detail how firmware-level attack chains observed in shipped enterprise devices can effectively undermine modern endpoint defenses, enabling stealthy compromise and long-lived persistence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115834965/en/ Binarly Unveils Broken Trust Research: Firmware Bypass, BMC Persistence In this presentation, the Binarly REsearch team will dismantle the assumption of hardware trust by presenting multiple real-world firmware bypass chains. Alex Matrosov and Fabio Pagani will provide a deep dive into the specific vulnerability classes and exploitation primitives that make these attacks reliable in practice. The team will also deliver a live demonstration compromising a fully
Coolbrook Named on the 2026 Global Cleantech 10015.1.2026 18:14:00 CET | Press release
Coolbrook, a transformational technology and engineering company on a mission to decarbonise major industrial sectors like petrochemicals and chemicals, iron and steel, aluminium, and cement, has been named on Cleantech Group’s 2026 Global Cleantech 100. This annual list recognizes companies poised to deliver market-ready solutions that advance a cleaner, more resilient global future. The report highlights innovators addressing some of the world’s most urgent environmental and infrastructure challenges. The complimentary report introduces you to innovators advancing groundbreaking technologies and business models to enable us to act on the ever-increasing climate and environmental crisis. Following a 2025 marked by geopolitical volatility and shifting economic signals, the global cleantech ecosystem enters 2026 with slightly greater certainty - yet heightened competitive pressure. Growth is concentrating around two dominant themes: AI infrastructure and critical minerals. “The 2026 Glo
World Economic Forum and Salesforce Empower Global Leaders With First-of-its-Kind Agentic Assistant for the 2026 Annual Meeting in Davos15.1.2026 18:01:00 CET | Press release
The Forum activates its vast data stores through Agentforce 360, enabling a level of preparation and decision-making for its over 3,000 attendees previously unachievable by human processing alone Salesforce (NYSE: CRM), the world’s #1 CRM, today announced the activation of the World Economic Forum’s institutional knowledge powered by Agentforce 360 to support over 3,000 of the world’s most influential leaders at the 2026 World Economic Forum Annual Meeting. The Forum has launched a new proactive, high-precision concierge app, “EVA,” built on the Agentforce 360 Platform, Salesforce’s agentic platform. EVA will empower attendees to move beyond traditional information access, with an AI agent that doesn’t just answer questions, but can reason, prioritize, and act on a leader’s behalf for the 2026 Annual Meeting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115571119/en/ Scheduled for January 19–23 in Davos, Switzerland, th
Frasca to Supply Four New Flight Training Devices to Global Medical Response15.1.2026 16:05:00 CET | Press release
New Level 7 FTDs will support pilot training for emergency medical operations Frasca International, Inc., a FlightSafety International company, today announced it has signed a contract with Global Medical Response (GMR) to supply four new Level 7 Flight Training Devices (FTDs). The new devices include an Airbus EC135, a Pilatus PC-12, a Beechcraft C90, and a Beechcraft B200. Each FTD will feature Frasca's unique motion system to provide enhanced realism in training. The devices will be installed at GMR’s new training facility currently under construction in Denton, Texas. Frasca has supported GMR’s pilot training efforts for nearly two decades, beginning with the delivery of their first device in 2005 for Air Evac Lifeteam, a GMR company. Since then, Frasca simulators have played a central role in preparing GMR’s flight crews for the complex and high-stakes environments they encounter in emergency medical operations. With the delivery of these new devices, GMR will operate a total of 1
illumynt Reports 60% Revenue Growth and Launches Global Innovation Center to Meet Rising Enterprise Security and Sustainability Demands15.1.2026 15:11:00 CET | Press release
illumynt an intelligent, security-first technology lifecycle partner, today announced significant growth and innovation milestones that position the company as a leader in the next evolution of the IT Asset Disposition (ITAD) industry—an industry increasingly shaped by artificial intelligence, accelerated hardware refresh cycles, and heightened regulatory scrutiny. Under the leadership of CEO Joerg Herbarth, illumynt continues to execute its mission to deliver intelligent, technology-driven lifecycle solutions that maximize sustainability, security, and recovery value for the world’s most compute-intensive organizations. In 2025, ITAD became a strategic imperative. AI-driven workloads have dramatically compressed infrastructure lifecycles, while updates to NIST SP 800-88 Rev. 2, adoption of R2v3, and the expansion of global privacy frameworks have raised expectations for auditability, transparency, and verified data security. As a result, ITAD has evolved from a back-end operational fu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom