Lenovo Group Limited (LNVGY) Q2 2025 Earnings Call Transcript

Lenovo Group Limited (OTCPK:LNVGY) Q2 2025 Earnings Call November 14, 2024 9:00 PM ET

Company Participants

Jenny Lai – Vice President, Investor Relations
Yuanqing Yang – Chairman and Chief Executive Officer
Wai Ming Wong – Group Chief Financial Officer
Kin Wong – President, Solutions and Services Group
Vlad Rozanovich – Senior Vice President, Infrastructure Solutions Group
Luca Rossi – President, Intelligent Devices Group
Sergio Buniac – Senior Vice President, Mobile Business Group and President, Motorola

Jenny Lai

Good morning, good afternoon and good evening. Welcome to Lenovo’s Earnings Investor Webcast. This is Jenny Lai, Vice President of Investor Relations. Thanks, everyone, for joining us.

Before we start, I would like to introduce our management team joining the call today. Lenovo’s Chairman and CEO, Yuanqing Yang; Group CFO, Wai Ming Wong; President of Solutions and Services Group, Kin Wong; Senior Vice President of Infrastructure Solutions Group, Vlad Rozanovich; President of Intelligent Devices Group, Luca Rossi; and Senior Vice President of Mobile Business Group and President of Motorola, Sergio Buniac. We will begin with earnings presentations. And after that, we will open the call for questions.

Now, let me turn it over to Yuanqing. Yuanqing, please.

Yuanqing Yang

Hello, everyone and thank you for joining us. Last quarter, Lenovo delivered accelerated revenue year-on-year growth for the fourth consecutive quarter with all of our businesses achieving strong double-digit growth. The group’s net income increase is even more significant. This is driven by strong execution of our clear strategy, leading innovations in hybrid AI, operational excellence and a global footprint. And we are optimistic that this momentum will sustain for the remainder of the fiscal year.

Last quarter, our group revenue grew almost 24% year-on-year. Net income increased 48% year-on-year on our non-Hong Kong FRS basis. Our diversified growth engines further accelerated with the non-PC revenue mix, increasing more than