Lenovo declares double-digit quarterly revenue growth

Lenovo Group (HKSE: 0992) (PINK SHEETS: LNVGY) has announced results for its second fiscal quarter ended September 30, 2018, the company said.

For the third straight quarter, Lenovo achieved strong double-digit growth in revenue year-over-year. Group revenue reached USUSD 13.4 billion, up 14% year-over-year (18% YOY excluding currency impact) — reporting its highest quarterly revenue for nearly four years.

The company also reported its second consecutive quarter of strong, pre-tax income of USUSD 213 million, six times as much as the previous year (+USUSD 178 million) as all businesses reported profit improvements.

In the second fiscal quarter, Lenovo´s profit attributable to equity holders grew to USUSD 168 million, up USUSD 91 million sequentially, and USUSD 29 million year-over-year. Basic earnings per share in the second fiscal quarter was 1.41 US cents or 11.06 HK cents. Lenovo´s board of directors declared an interim dividend of 6.0 HK cents per share.

During Q2, FY2018/19, Lenovo continued to expand on its new phase of “Intelligent Transformation” growth, thanks to both financial discipline and operational excellence, as well as a lengthening list of technology innovations across all its key business units. Decisive steps to restructure businesses and create new efficiencies taken in prior quarters are already yielding significant results. Lenovo´s key business units each tallied significant growth and market strength during the quarter:

Lenovo is a USD 45 billion Fortune Global 500 company and a global technology provider of driving Intelligent Transformation through smart devices and infrastructure that create the best user experience. Lenovo manufactures one of the world´s widest portfolios of connected products, including smartphones (Motorola), tablets, PCs (ThinkPad, Yoga, Lenovo Legion) and workstations as well as AR/VR devices and smart home/office solutions.