Lenovo: Fiscal 1FQ25 Financial Results

(in $ million)	1Q24	1Q25	Growth
Revenue	12,900	15,447	*20%*
Net income (loss)	191	315

Lenovo Group Limited revenue increased 20% Y/Y to $15.4 billion, net income was up 65% Y/Y to $315 million on a non-Hong Kong Financial Reporting Standards basis, and non-PC revenue mix was up 5 points year-to-year reaching a historic high of 47%.

The Chinese company has 3 business groups:

Infrastructure Solutions Group (ISG), including its storage activity
Solutions and Services Group
Intelligent Devices Group

Here are some comments on storage activity.

Non-compute sales, including storage and HPC, maintained their strong growth trajectory and accounted for 34% of ISG’s top line. The group has emerged as one of the fastest-growing providers of storage solutions globally, with significant advancements in new product segments. Storage revenue reached an all-time high for the 1FQ25, completing a streak of 10 consecutive quarters of double-digit annual growth. According to the latest 3rd-party figures, ISG’s share of revenue in the global storage market continued to increase Y/Y. HPC also achieved its highest-ever revenue.

Combined revenue from storage, software and services was up 59% Y/Y, a record high.

The Chinese company was classified one of the top market positions into IDC Quarterly Enterprise Storage Systems Tracker, 1Q24 (June 2024)