Lenovo Group (LNVGY) reported record fiscal first-quarter revenue of $26.94 billion. Revenue increased 43% year-over-year. This represents the company's fastest quarterly growth in five years. The results significantly beat analyst expectations of $22.3 billion. Hong Kong-listed shares surged to an all-time high following the announcement.
Surging demand for AI-related hardware drove the performance. Revenue from AI products grew 60% year-over-year. AI-related sales reached $9.3 billion. These products now account for 35% of total revenue. The Infrastructure Solutions Group nearly doubled its revenue through AI server sales.
Adjusted net income jumped 176% year-over-year. This profit reached $1.075 billion. The result marks the first time the company's quarterly adjusted profit exceeded $1 billion.