LNVGY - Lenovo Group Limited (LNVGY) Q3 2024 Earnings Call Transcript
2024-02-22 15:45:30 ET
Lenovo Group Limited (LNVGY)
Q3 2024 Earnings Call Transcript
February 22, 2024 2:00 AM ET
Company Participants
Jenny Lai - Vice President of Investor Relations
Yuanqing Yang - Chairman & CEO
Wai Ming - Executive VP & CFO
Luca Rossi - Executive VP & President of Intelligent Devices Group
Kirk Skaugen - Executive VP & President of Infrastructure Solutions Group
Kin Hang Wong - Executive VP and President of Lenovo Solutions & Services Group
Sergio Buniac - Senior VP of Mobile Business Group & President of Motorola
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. Mr. Yang Yuanqing, Lenovo's Chairman and CEO; Mr. Wong Wai Ming, Group CFO; Mr. Kin Wong, President of Solutions and Services Group; Mr. Kirk Skaugen, President of Infrastructure Solutions Group; Mr. Luca Rossi, President of Intelligent Devices Group; Mr. Sergio Buniac, President of Mobile Business Group and President of Motorola.
We will begin with earnings presentations. And shortly after that, we will open the call for questions.
Now let me turn it over to Yang Yuanqing, please.
Yuanqing Yang
Hello, everyone, and thank you for joining us today. Last quarter, Lenovo delivered on its promise to resume year-on-year revenue growth despite multiple macro challenges. Profitability has improved quarter-to-quarter for 2 consecutive quarters, a testament to both the resilience of our core business and the effectiveness of our transformation. In addition, we have also been focusing on the growth opportunities brought by hybrid AI. This includes continuous investment in innovations to fuel sustainable growth into the future, a part of which we demonstrated last month at the Annual CES event, well, we received industry-wide recognition for more than [40] new devices and solutions. As I shared with you in Q2, Lenovo has been consistently improving quarter-to-quarter, and we have entered our trajectory to recover.
Now for fiscal Q3, we successfully achieved year-on-year growth. Group revenue increased 3% year-on-year, and the global profitability improved quarter-to-quarter for 2 consecutive quarters. Thanks to the strong execution of our transformation strategy, our non-PC revenue mix further expanded year-on-year to 42% of the Group revenue....
Lenovo Group Limited (LNVGY) Q3 2024 Earnings Call Transcript