China’s Lenovo posts 43% jump in Q1 revenue, highest in five years

BANGALORE/BEIJING: China’s Lenovo Group reported a 43% jump in quarterly revenue on Thursday, beating forecasts and sending shares of the world’s largest computer maker surging, as it rides an AI hardware boom and reaps the benefits of a ‌global memory chip ⁠shortage.

Lenovo’s revenue ⁠rose to $26.94 billion in the three months ended June 30, beating analyst expectations of $22.3 billion, as the consumer electronics hardware giant ​benefited from artificial intelligence-driven demand and solid PC sales.