Source: Daniel Rubino / Windows Central
Lenovo earned record profit and revenue in the third quarter of its 2021-22 fiscal year. The company saw a net income growth rate of over 50% for the sixth straight quarter. Lenovo made a net income of 640,000 in the quarter, which is a 62% growth year-over-year. It was also the first $20 billion quarter for the company in terms of revenue.
“With another record quarter, we delivered the 6th quarter of more than 50% net income year-on-year growth, and the first US$20 billion revenue quarter in our history,” said Lenovo Chairman and CEO Yuanqing Yang. “We remain on track to double both our net margin and R&D investment in three years from FY20/21 levels.”
The following chart from Lenovo is measured in millions of U.S. dollars except when reporting per share data.
Lenovo’s Solutions and Services Group saw revenue growth of 25% year-over-year. Its Infrastructure Solutions Grow recorded its first profitable quarter since 2014 in Q3 21/22. The company’s Intelligent Devices Group, which makes some of the best Windows laptops, had revenue growth of 16% year-over-year in the quarter.
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