Lenovo reports Q2 results; inches closer to HP

Lenovo reported results for its second fiscal quarter where it outgrew the market in all geographies.

Lenovo stated goal is to become the number one vendor in the PC industry and it helped itself today with record quarterly sales of $8.7 billion, an 11 per cent increase year-over-year.

Lenovo also turned in another quarter of record pre-tax income atUS$204 million.

During the second fiscal quarter, Lenovo’s worldwide PC shipments grew 10.3 per cent.

Lenovo turned in net income of US$162 million in the second quarter, an increase of 13 per cent year-over-year, with gross margin at 12.1 per cent. Gross profit for the second fiscal quarter increased 11 per cent year-over-year, to US$1.1 billion, while operating profit for the second quarter was US$206 million, a 24 per cent increase year-over-year.

Yang Yuanqing, Chairman and CEO of Lenovo, said With the strong execution of our Protect and Attack strategy, Lenovo has continued its strong and balanced growth momentum. Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader. With four years’ effort, our Consumer PC business has become the world’s number one in this segment for the first time. Our smartphone business in China, which we started only two years ago, has again strengthened its number two position.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

CDN Staff
CDN Staffhttps://channeldailynews.com
For over 25 years, CDN has been the voice of the IT channel community in Canada. Today through our digital magazine, e-mail newsletter, video reports, events and social media platforms, we provide channel partners with the information they need to grow their business.

Related Tech News

CDN in your inbox

CDN delivers a critical analysis of the competitive landscape detailing both the challenges and opportunities facing solution providers. CDN's email newsletter details the most important news and commentary from the channel.