Lenovo Group officially announced the results of the latest quarterly, which closed on 31 December 2021. The company has achieved record numbers both in terms of profits and revenues, confirming the strong growth recorded in recent months. Lenovo managed to overcome the challenges posed by supply chain problems recorded a truly amazing quarterly. Let’s see the data:
Record quarter for Lenovo
Lenovo ended the last quarter with over 20 billion dollars in revenues with a growth of + 17% compared to the same period of the previous year. Also note the creturn of the net profit which scores excellent +62% on an annual basis, reaching a record value of 640 million dollars. This is the third consecutive quarter that Lenovo closes with a net profit characterized by growth of more than + 50%.
Note that Lenovo has announced a new growth (+ 38%) with regards to investments in research and development in the quarterand, confirming the commitment to double investments within three years. The company confirmed its intention to continue following the 3S strategy (smart devices / IoT, smart infrastructure, smart verticals). In addition, Lenovo aims to double its net margin by the end of the 2023/2024 financial year.
Among the main results of Lenovo there is a growth of + 16% in the revenues of the Intelligent Devices Group division which reaches 17.6 billion dollars in revenues. Furthermore, for premium PCs, there was a growth of 40% for workstation revenues and + 27% for gaming.
The CEO’s comment
Yuanqing Yang, President and CEO of Lenovo, says: “Lenovo continues to seize the opportunities generated by accelerating the digital and intelligent transformation process, we are very well positioned thanks to our new IT architecture and ‘Client-Edge-Cloud-Network-Intelligence’ capabilities. With another record quarter, we achieved the 6th quarter with more than 50% growth in net income year over year and the first quarter with revenues of $ 20 billion in our history. We remain on track to double both our net margin and R&D investment in three years from FY20 / 21 ″