Lenovo, a Beijing-based maker of personal computers, servers, and smartphones, said on August 13 that fiscal first-quarter revenue for the three months ended June 30 rose 43% year on year to US$26.94 billion, above analyst estimates of US$22.3 billion.

The growth was driven by AI-related demand and solid PC sales.

The company reported a net loss attributable to shareholders of US$609 million, compared with a US$505 million profit a year earlier, mainly due to a non-cash US$1.7 billion fair value loss from revaluing warrants.

Lenovo previously said adjusted net income excludes fair value changes on warrant-related derivative liabilities, indicating that such non-cash items can materially affect reported earnings.

AI-related revenue rose 60% to US$9.3 billion, or 35% of total revenue, and Lenovo’s shares surged as much as 17% after the results.

The gains came as Lenovo benefited from AI demand and a global memory chip shortage.

Counterpoint Research said global PC shipments fell 4% year on year to 65 million units in the second quarter of 2026, while Lenovo kept the market lead with a 25.6% share.

🔗 Source: Reuters

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