Lenovo Group: Q1 Financial Results 2026/27

HONG KONG — Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group’), today reported first quarter results for fiscal year 2026/27, marking the highest quarterly revenue growth in the past five years and the strongest quarter in the Group’s history. During the quarter, overall Group revenue reached an all-time quarterly high of US$26.9 billion, up 43% year-on-year, with all business groups delivering record first-fiscal-quarter revenue and operating profit. Adjusted net income [1] was up 176% year-on-year to US$1.1 billion, surpassing the US$1 billion milestone for the first time ever, with adjusted net margin improvements of almost two percentage points year-on-year supported by higher revenue scale and continued efficiency gains. AI-related revenue [2] grew 60% year-on-year to US$9.3 billion, accounting for 35% of total Group revenue in Q1. The Group continues to invest in innovation with R&D expenses up 30% year-on-year.

The first quarter results demonstrate the Group’s ability to translate its Hybrid AI strategy into tangible business performance, building on its leadership in PCs and smart devices while rapidly establishing Lenovo as a global leader in AI solutions and infrastructure. In particular, the record performance of the Infrastructure Solutions Group (ISG) demonstrated its clear role as a key engine of both growth and profitability for Lenovo. The quarter also saw Lenovo deliver AI solutions and services at scale for the FIFA World Cup 2026™, as FIFA’s Official Technology Partner . Spanning three countries, 16 cities, 48 teams, and 104 matches, Lenovo provided the devices, infrastructure, services, solutions and AI-powered innovation that helped support FIFA operations, global broadcasts, team analysis, officiating technology and fan experiences at massive scale. In addition, the partnership created a powerful platform for customer engagement, is accelerating commercial opportunities, and is elevating Lenovo’s global brand as an AI leader. The Group’s operational resilience was a key competitive advantage during the quarter. Lenovo’s scale, Global/Local supply chain, strong supplier relationships, and end-to-end operating model enabled it to anticipate and manage supply constraints and cost pressures effectively – turning industry-wide disruption into an opportunity to strengthen its competitive position.

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“Following Lenovo’s best year in history, we have now delivered our strongest quarter ever – with growth accelerating, profitability further improving, and AI emerging as a clear growth engine across every business group. Building on our leadership in PCs and Smart Devices, we are proud of our rapid emergence as a global leader in AI and Infrastructure – a clear validation of our strategic foresight. Powered by our Hybrid AI strategy, operational excellence, and relentless innovation, Lenovo is not only navigating market cycles but also seizing initiatives to win.