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Lenovo, the world’s largest PC maker, reported a sharper-than-expected 64% drop in fourth-quarter profit, primarily due to a non-cash reduction in the value of warrants. Net profit for the quarter ended March 31 fell to $90 million, significantly below analysts’ consensus estimate of $225.8 million, according to LSEG data.
However, quarterly revenue came in strong at $16.98 billion, surpassing forecasts of $15.6 billion. Despite the profit miss, Lenovo’s ongoing pivot toward artificial intelligence (AI) and enterprise solutions is showing promise. The company launched its first AI-powered PCs in China last May, followed by a global rollout in September. CEO Yang Yuanqing anticipates AI PCs will comprise 25% of shipments by 2025, potentially growing to 80% by 2027.
In a strategic tech partnership, Lenovo integrated low-cost AI models from Chinese startup DeepSeek into its hardware lineup, including PCs and tablets, strengthening its position in the evolving AI device market.
Lenovo’s infrastructure solutions group, which includes servers, saw a robust 64% year-over-year revenue jump in the March quarter. Meanwhile, its solutions and services group—which offers cloud software for enterprise clients—reported $2.2 billion in revenue, a 22% increase from the previous year.
Despite the positive developments in AI and enterprise segments, Lenovo’s shares on the Hong Kong stock exchange fell 2.08% following the earnings announcement and are down 1.69% year-to-date.
With strong AI ambitions and growing enterprise service revenues, Lenovo is betting big on digital transformation to offset short-term profit pressures and drive long-term growth.
