Investing.com–Lenovo Group (HK:) posted a sharp rise in earnings for the September quarter as the PC maker saw strong demand for its devices and tech infrastructure offerings from the artificial intelligence sector.
Lenovo’s profit attributable to shareholders rose 44% to $359 million in the three months ended September 30, the company said in a statement.
This was on revenues of $17.85 billion, up 24% from last year.
Lenovo said all three core sectors posted strong revenue growth, citing increased demand for its AI offerings. This was particularly evident in the Infrastructure Solutions Group division, which benefited from more companies setting up AI infrastructure.
Asia accounted for most of the sales growth, with sales in China growing 26% over the past six months.
Sales of Lenovo devices, which have lagged in recent quarters, picked up thanks to demand for AI-enabled PC models. Gaming PC sales also benefited from strong game launches during the quarter, especially Black Myth: Wukong.
The company said it will continue to deploy its AI offerings across all three of its key business sectors, but flagged higher costs as it ramps up investments in the fast-growing industry.
