Lenovo’s non-PC revenues reached a fiscal year high of approximately 40%, driven by diversified growth engines in the Solutions & Services Group and the Infrastructure Solutions Group.
Lenovo on Wednesday said it had revenue of $62 billion and net profit of $1.6 billion in fiscal year 2023, or $1.9 billion on a non-HKFRS basis. The Company’s Board of Directors has announced a final dividend of US$3.8 or HK cents per share for the financial year ending March 31, 2023.
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However, Lenovo’s non-PC revenues reached a fiscal year high of about 40%, driven by the company’s diversified growth engines, the Solutions & Services Group and the Infrastructure Solutions Group.
The fourth quarter continued to be our most difficult time of the year. lenovoDue to pressure from both the market and the global economy, the company said. Lenovo’s revenue for the fourth quarter of fiscal 2023 fell 24% year-over-year (YoY) to $12.6 billion.
The company said earnings were impacted by a downturn in the device market. But after a year of uncertainty, Lenovo said it sees positive signs that could indicate market stabilization.
The group expects the overall PC and smart device market to return to year-on-year growth in the second half of 2023.
Lenovo said the IT services market is also expected to resume relatively high levels of growth, while digital and intelligent transformation is expected to continue accelerating, leading to significant growth potential for cloud and computing infrastructure. rice field.
Lenovo CEO Yuanqing Yang said in a statement that Lenovo’s strategy is working and resilient in the face of uncertainty. “Lenovo delivered solid profitability last year as our diversified growth engine continues to hit new milestones. and our non-PC business revenue mix has grown to nearly 40% Our clear strategy is working and our business remains resilient despite global uncertainty I have a lot,” Yang said.
Date first published: May 24, 2023 18:42 IST