Lenovo Shares Jump 15 Percent on Strong Revenue Growth
Lenovo reported a 27 percent increase in quarterly revenue to 21.6 billion dollars as PC shipments outpaced the broader market. The company also saw its infrastructure solutions group grow 37 percent amid rising demand for artificial intelligence servers and data center solutions.
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LENOVO GROUP LTD reported a 27% revenue jump to $21.6 billion for the quarter ending March, beating analyst estimates of $18.7 billion. The China-based firm's shares surged 15%, leading gains in the Hang Seng Index. Strong consumer demand ahead of anticipated price hikes is driving a recovery in the global computer market as Lenovo expands its footprint in artificial intelligence infrastructure.
