Last updated on December 8th, 2022 at 02:48 pm
Lenovo took over a quarter of the PC market and reported a huge jump in profits
Lenovo has released financial results for the third quarter of the 2020/2021 fiscal year, which closed on December 31, with revenue reaching a record $ 17.2 billion, almost a quarter (22%) more than a year ago.
“ Lenovo ‘s strong growth has driven Lenovo ‘s products to rapidly adapt to the new culture of work, learning, and entertainment from home, and investments in smart transformation have spurred new long-term growth opportunities, ” the report said.
Net income jumped 53% to $ 395 million. Basic earnings per share were 3.31 cents. It is noted that financial indicators have become a record for the second quarter in a row.
What’s more, Lenovo reports a record-high share of the personal computer market, with 25.3% of the global industry. At the same time, high rates were demonstrated in all regions.
Lenovo’s Mobile Business Group (MBG) recovered from the pandemic’s effects and posted double-digit revenue growth over the same period last year. Moreover, the profitability of Lenovo MBG has reached its highest level since the acquisition of Motorola.
The report also said that revenue from sales of software and services for the year jumped by about 36%, amounting to almost $ 1.4 billion.
