BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Lenovo Group (0992.HK) reported a first quarter net loss attributable to equity holders of $609 million compared to net income of $505 million, prior year. Earnings per share, in US cents, was a loss of 5.04 compared to profit of 3.65. Adjusted net income was up 176% year-on-year to $1.1 billion, with adjusted net margin improvements of almost two percentage points year-on-year supported by higher revenue scale and continued efficiency gains.
Group revenue was $26.9 billion, up 43% year-on-year. AI-related revenue grew 60% year-on-year to $9.3 billion, accounting for 35% of total Group revenue in the quarter. R&D expenses were up 30% year-on-year. Revenue from PCs and smart devices were up nearly 30% year-on-year. Tablet revenue surged by more than 80% year-on-year. Smartphone business delivered revenue growth of 15% from last year.
Lenovo shares are trading at HK$34.04 on Stock Exchange of Hong Kong, up 17.22%.
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