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AI demand surge drives Lenovo Q1 revenue up 27%, stock soars nearly 20% to new high
[Caixin] The explosive demand for AI servers has driven Lenovo's performance and stock price to new highs. On May 22, Lenovo Group (00992.HK) announced its first-quarter results, achieving revenue of $21.6 billion, a quarterly record high, surpassing LSEG analyst expectations of $18.7 billion, with a year-over-year revenue growth of 27%; net profit attributable to the company under non-Hong Kong financial reporting standards was $559 million, up 101% year-over-year.
This performance far exceeded market expectations. On May 22, Lenovo Group (0992.HK) stock price rose steadily after opening, closing at HKD 15.75 per share, a surge of 19.77%, hitting a new high since listing.