Lenovo Shows Record Results - AI Demand Accelerated Company Growth
Chinese technology giant Lenovo Group has announced record annual revenues and profits, driven primarily by growing demand for artificial intelligence products.
The company's annual revenue for the financial year ended March 31 reached $83.1 billion, representing 20% growth compared to the previous year. Net profit attributable to shareholders increased by 38% and amounted to $1.91 billion.
Lenovo's shares on the Hong Kong Stock Exchange rose more than 13% and reached their highest level since 2000. In the fourth quarter, the company's revenue grew by 27% and reached a record $21.6 billion, while net profit increased to $521 million, compared to $90 million in the previous year.
According to the company's data, AI-related revenues grew by 105% over the year and account for approximately one-third of total sales. Particularly strong growth was recorded in AI servers, infrastructure, and services.
Growing demand for AI servers has also strengthened Lenovo's infrastructure business, which returned to profitability this year and achieved record revenue of $19.2 billion.
The company's traditional business, focused on computers and smartphones, showed 17% growth, while its global PC market share reached 24.4%. The Board of Directors also announced an increase in dividends, a welcome additional positive signal for investors.
