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Lenovo reported record full-year revenue of $83.1 billion on Friday, as AI-related sales nearly doubled year-on-year to account for 33% of total group revenue for the fiscal year ended March 31.
The results mark the strongest annual performance in the company's history. Adjusted net income for the full year grew 42% year-on-year to $2 billion, the company said. Quarterly revenue of $21.6 billion represented a 27% year-on-year jump — a pace of growth the company had not seen in five years — and net income came in at $521 million, CNBC reported.
On a full-year basis, AI-related revenue climbed 105%, and in the fourth quarter alone it expanded 84% to make up 38% of total group revenue. The company's definition of AI-related revenue encompasses neural processing unit-equipped PCs and smartphones, servers running graphics processing units, and a range of customer-facing AI services.
The Infrastructure Solutions Group delivered record full-year revenue of $19.2 billion, up 32% year-on-year, reaching full-year profitability with an operating profit of $73 million — a $142 million improvement year-on-year. The company said its AI server business pipeline stands at $21 billion, with more than 5,800 customer AI deployments.
