Lenovo’s This autumn income slumps 24% to $12.6 billion

Lenovo on Wednesday mentioned its income for FY23 got here at $62 billion, whereas its web earnings stood at $1.6 billion, or $1.9 billion on a non-Hong Kong Financial Reporting Standards (HKFRS) foundation. The firm’s board of administrators has introduced the ultimate dividend of three.8 US cents or 30.0 HK cents per share for the fiscal 12 months which ended on March 31, 2023.

However, Lenovo’s income from non-PC companies noticed a fiscal 12 months excessive of virtually 40 per cent, pushed by the corporate’s diversified development engines of Solutions and Services Group and Infrastructure Solutions Group. 

The fourth quarter remained probably the most difficult interval of the 12 months for Lenovo, as a result of pressures from each the market and world financial system, the corporate mentioned. In the Q4FY23, Lenovo’s income slumped 24 per cent year-to-year (YoY) to $12.6 billion.

The PC-maker mentioned its income was impacted resulting from softness within the system market. However, after a 12 months of uncertainty, Lenovo mentioned it sees some optimistic indicators which can point out market stabilisation.

The group is anticipating all the PC and good gadgets market to return to year-to-year development within the second half of 2023.

Lenovo mentioned the IT companies market can also be anticipated to renew comparatively excessive ranges of development, whereas digital and clever transformation is predicted to proceed to speed up, which is able to result in a giant development potential for cloud and computing infrastructure.

In an announcement, Lenovo CEO Yuanqing Yang mentioned that Lenovo’s technique is working and is resilient within the face of uncertainties. “Lenovo has delivered stable profitability in the last fiscal year as our diversified growth engines continue to hit new milestones. Their momentum is driving steady progress in our services-led transformation, and our non-PC businesses’ revenue mix increased to nearly 40%. Our clear strategy is working, and our operation is resilient, even in the face of global uncertainties,” Yang mentioned.


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