Lenovo’s Three-Wave Strategy Delivers Strong Revenue and Earnings in Third Quarter FY2017/18

Mobile Business Group (MBG):

  • Revenue of US$2.1 billion was down 5 percent from a year earlier, but flat compared to the prior quarter.
  • Latin America remained the strong core of the business, seeing double-digit revenue growth (+37%) and strong profitability.
  • 5 million Moto Z handsets have now been shipped globally, with activation rates for MODS up 64% year-to-year.
  • Lenovo saw the Moto brand strengthen in Western Europe, with shipments up 23 percent compared to the same period a year ago.

About Lenovo

Lenovo (HKSE: 0992) (PINK SHEETS: LNVGY) is a US$43 billion global Fortune 500 company and a leader in providing innovative consumer, commercial, and data center technology. Our portfolio of high-quality, secure products and services covers PCs (including the legendary Think and multimode Yoga brands), workstations, servers, storage, networking, software (including ThinkSystem and ThinkAgile solutions), smart TVs and a family of mobile products like smartphones (including the Motorola brand), tablets and apps. Join us on  LinkedIn, follow us on  Facebook or Twitter ( @Lenovo) or visit us at  http://www.lenovo.com/.

 
 
 
 

LENOVO GROUP
FINANCIAL SUMMARY
For the fiscal quarter ended December 31, 2017
(in US$ millions, except per share data)

 
       
Q3 17/18
   

Q3 16/17

   
Y/Y CHG
Revenue 12,939       12,169       6 %
Gross profit 1,751       1,595       10 %
Gross profit margin 13.5 %     13.1 %     0.4pts
Operating expenses (1,547 )     (1,457 )     6 %
Expenses-to-revenue ratio 12.0 %     12.0 %     -  
Operating profit 204       138       48 %
Other non-operating expenses (54 )     (37 )     48 %
Pre-tax income 150       101       48 %
Taxation* (425 )     6       N/A  
(Loss)/Profit for the period (275 )     107       N/A  
Non-controlling interests (14 )     (9 )     65 %
(Loss)/Profit attributable to equity holders (289 )     98       N/A  
EPS (US cents)        
Basic (2.53 ) 0.90 N/A
Diluted       (2.53 )     0.90       N/A  
* In accordance with accounting policies, a one-off non-cash tax charge of US$400 million has been included in Q317/18 which reflects the re-measurement of US deferred tax assets after the recently enacted US tax reform legislation.
 
 



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