Lenovo Q2 Earnings: Cloud Momentum, AI PCs, And Smartphone Growth Drive Revenue Beat [Yahoo! Finance]
LENOVO GROUP LTD S/ADR (LNVGY)
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www3.lenovo.com/us/en/lenovo/investor_relations
Company Research
Source: Yahoo! Finance
The Solutions and Services Group (SSG) posted revenue growth of 13% Y/Y to $2.17 billion, with an operating margin of 20.4%, up by 40 bps Y/Y. The segment accounted for 32% of the total operating profit of the three business groups. Managed services and Project & Solution Services revenue experienced double-digit growth, attributed to a solid contract backlog. Also Read: Disney Q4 Earnings: Revenue And Profit Beat, Best Film Studio Performance, 3-Year Outlook And More The Infrastructure Solutions Group (ISG) revenue grew 65% Y/Y to $3.31 billion, driven by solid cloud momentum and strengthening enterprise business. High double-digit revenue growth for Storage came from aggressive cloud investment. Both the smartphone and tablet businesses delivered high double-digit revenue growth. The segment operating margin loss improved to (1.1)% versus (2.7)% Y/Y. Intelligent Devices Group (IDG) increased 17% to $13.51 billion, driven by substantial market share gain in PC and smartphones
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