Lenovo earns 500 million euros in its fiscal first quarter, up 11%

Lenovo earns 500 million euros in its fiscal first quarter, up 11%

The Chinese technology company Lenovo obtained a net profit of 516 million dollars (500.6 million euros) in its first fiscal quarter of 2023, between April and June 2022, which represents an increase of 11% compared to the same period of the previous exercise.

The global turnover of the Chinese technology company reached 16,956 million dollars (16,450 million euros) in its first fiscal quarter, which represents an increase of 0.2% compared to the same period of the previous year, as reported on Wednesday.

Of its total turnover, Lenovo entered 186 million dollars (180.5 million euros) for its business in Spain between April and June 2022.

By geographical areas, America represented 35% of the company’s revenues, after growing 8% year-on-year, followed by the EMEA region (Europe, Middle East and Africa), with 25% and an increase of 1%, and China, with 24% but a year-on-year decrease of 11%.

For its part, the Asia-Pacific region accounted for 16% of revenue after growing 1%.

By business areas, the total income of the Solutions and Services division (SGG) increased by 23% year-on-year to 1,456 million dollars (1,413 million euros) in its first quarter.

For its part, the Infrastructure Solutions division (ISG) set its revenue record in a quarter, billing 2,086 million dollars (2,023.7 million euros) between April and June 2022, 14% more.

In the case of the Intelligent Devices division (IDG), which includes the sale of computers, mobile phones or tablets, the company had a turnover of 14,274 million dollars (13,848 million euros), 2.67% less than in the same period of 2021.

From the company they highlight that the group’s income without the computer area accounted for 37% of the total, which shows “that the transformation strategy driven by services and its constant investments to diversify the business have borne fruit and have begun to promote future growth opportunities.

In addition, Lenovo invested 10% more in Research and Development (R&D) to 511 million dollars (495.7 million euros), while its headcount increased by 29% year-on-year.

Looking to the future, the company, although it foresees that “some external challenges” may persist in the short term, “remains optimistic regarding the growth potential of the sector in the long term and the opportunities that investments in the new growth engines will generate “.

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