China’s Lenovo Group reported a 43% jump in quarterly revenue, 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.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
