BANGALORE/BEIJING: China’s Lenovo Group reported a 43% jump in quarterly revenue on Thursday, as the world’s largest computer maker rides an AI hardware boom and reaps the benefits of a global memory chip shortage.
Lenovo’s revenue rose to $26.94 billion in the three months ending June 30, beating analyst expectations of $22.3 billion, as the consumer electronics hardware giant benefited from artificial intelligence-driven demand and solid PC sales.
The company swung to a net loss attributable to shareholders of $609 million from profit of $505 million last year, compared to the average analyst estimate of $589 million, according to data compiled by LSEG.
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