{"id":7690,"date":"2024-02-22T11:58:59","date_gmt":"2024-02-22T10:58:59","guid":{"rendered":"https:\/\/shams-alyaoum.com\/en\/?p=7690"},"modified":"2024-02-22T11:59:29","modified_gmt":"2024-02-22T10:59:29","slug":"lenovo-resumes-year-on-year-revenue-growth-performance-driven-by-resilience-of-core-businesses-and-effectiveness-of-transformation","status":"publish","type":"post","link":"https:\/\/shams-alyaoum.com\/en\/lenovo-resumes-year-on-year-revenue-growth-performance-driven-by-resilience-of-core-businesses-and-effectiveness-of-transformation\/","title":{"rendered":"Lenovo resumes year-on-year revenue growth \u2013 performance driven by resilience of core businesses and effectiveness of transformation"},"content":{"rendered":"<p><b>Lenovo Group<\/b>\u00a0<b>Limited\u00a0<\/b>(HKSE: 992) (ADR: LNVGY), together with its subsidiaries (\u2018the Group\u2019), today announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row. Net income was US$357 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)<sup>[1]\u00a0<\/sup>basis, with net income margin up 0.4% quarter-to-quarter to 2.3%. The Group\u2019s diversified growth engines continued to deliver strong performance, with revenue from non-PC businesses accounting for 42% of Group revenue, up 1.3 points year-on-year.<\/p>\n<p>The consistent quarter-to-quarter improvements over past quarters have been driven by the resilience of the Group\u2019s core businesses and the wider effectiveness of its ongoing transformation. The SSG business hit an important milestone of passing the US$2 billion revenue threshold, achieved a record high operating profit with operating margin of over 20% and grew revenue from managed services and project and solution services year-on-year for 11 straight quarters. The ISG business delivered quarter-to-quarter revenue growth and reached a record high US$1 billion revenue for its storage, software, and services businesses. Overall, the IDG business resumed revenue growth, outperformed the market and achieved year-on-year shipment growth for PCs, and maintained its industry-leading profitability.<\/p>\n<p><b>Financial Highlights:<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lenovo Group\u00a0Limited\u00a0(HKSE: 992) (ADR: LNVGY), together with its subsidiaries (\u2018the Group\u2019), today announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row. Net income was US$357 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)[1]\u00a0basis, with net income margin up &hellip;<\/p>\n","protected":false},"author":1,"featured_media":7691,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,17],"tags":[],"class_list":["post-7690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lenovo resumes year-on-year revenue growth \u2013 performance driven by resilience of core businesses and effectiveness of transformation - Magazine Shams Al Yaoum<\/title>\n<meta name=\"description\" content=\"Lenovo Group\u00a0Limited\u00a0(HKSE: 992) (ADR: LNVGY), together with its subsidiaries (\u2018the Group\u2019), today announced third quarter results reporting Group revenue\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shams-alyaoum.com\/en\/lenovo-resumes-year-on-year-revenue-growth-performance-driven-by-resilience-of-core-businesses-and-effectiveness-of-transformation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lenovo resumes year-on-year revenue growth \u2013 performance driven by resilience of core businesses and effectiveness of transformation - 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