Lenovo Group Limited (LNVGY) Q3 2025 Earnings Call Transcript

2025-02-20 13:28:01 ET

Lenovo Group Limited (LNVGY)

Q3 2025 Earnings Conference Call

February 20 2025 2:00 AM ET

Company Participants

Jenny Lai - Vice President of Investor Relations

Yuanqing Yang - Chairman and Chief Executive Officer

Wai Ming Wong - EVP and Chief Financial Officer

Ken Wong - EVP and President of Solutions and Services Group

Luca Rossi - EVP and President of Intelligent Devices Group

Ashley Gorakhpurwalla - EVP and President of Infrastructure Solutions Group

Sergio Buniac - Senior VP of Mobile Business Group and President of Motorola

Conference Call Participants

Presentation

Jenny Lai

Good morning, good afternoon and good evening. Welcome to Lenovo’s Investor Earnings Webcast. This is Jenny Lai, Vice President of Investor Relations at Lenovo. Thanks, everyone, for joining us.

Before we start, let me introduce our management team joining the call today. Yuanqing Yang, Lenovo’s Chairman and CEO; Wai Ming Wong, Group CFO; Luca Rossi, President of Intelligent Devices Group; Ashley Gorakhpurwalla, President of Infrastructure Solutions Group; Ken Wong, President of Solutions and Services Group; and Sergio Buniac, Senior Vice President of Mobile Business Group and President of Motorola. We will begin with earnings presentations. And after that, we will open the call for questions.

Now, let me turn it over to Yuanqing. Yuanqing, please.

Yuanqing Yang

Hello, everyone and thank you for joining us today. Last quarter, thanks to our strategic foresight, continuous innovation, and operational excellence, Lenovo delivered a strong growth across all core businesses, driving significant increase of overall global revenue and profit. We are also pleased that the adoption and application of AI is accelerating, driven by innovative technologies that are more efficient and at a lower cost, creating huge growth opportunities. We continue to lead in Personal AI with our AI device innovations, while proactively leveraging hybrid infrastructure and our Hybrid AI Advantage to build enterprise AI, so as to further drive sustainable growth and profit improvement.

Last quarter, our group revenue grew double-digit year-on-year for three quarters in a row. Profit growth was even stronger with the group net income, more than doubled year-on-year on a Hong Kong FRS basis. Such a fantastic result is attributed to the excellent performance of all core businesses, from the successful turnaround of ISG driven by its continuous fast growth to the double-digit year-on-year revenue growth momentum of both IDG and SSG.

Our diversified growth engines continued to accelerate, propelling, our non-PC revenue mix to more than 46%. We continued to increase investment in R&D with a focus on AI, dedicated to building a foundational AI technology platform, exploring use case breakthroughs in agentic AI, as well as continuously developing technologies and their applications into products. ...

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