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- Lenovo Group Ltd LNVGY reported fourth-quarter FY21 revenue growth of 48% year-on-year to $15.6 billion, beating the analyst consensus of $14.4 billion.
- Revenue from PC and Smart Devices (PCSD) rose 46% Y/Y to $12.4 billion, Mobile Business Group (MBG) rose 86% Y/Y to $1.54 billion, and Data Center Group (DCG) rose 32% Y/Y to $1.6 billion.
- Gross profit rose 44% Y/Y to $2.7 billion, with the margin contracting 40 basis points to 17.2%.
- Operating profit increased 188% Y/Y to $479 million, but the margin expanded 150 basis points to 3.1%.
- Net income rose 512% Y/Y to $260 million, translating to EPS of $1.94. Net margin expanded 130 basis points to 1.7%.
- Q4 results closed out a record year, with annual Group revenue surging past $60 billion, adding more than $10 billion on the previous fiscal year.
- Chairman and CEO Yuanqing Yang aims to capture the huge growth opportunities created by the market trends of information consumption upgrade, infrastructure upgrade, and application upgrade to drive long-term sustainable growth and a smarter future.
- Price action: LNVGY shares closed higher by 3.21% at $25.07 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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