Lenovo Revenues Jump 43 Percent to $26.9 Billion

Lenovo posted a net loss of $609 million on revenues of $26.9 billion in the quarter ending June 30, 2026.

Despite this, Lenovo reported that it earned an “adjusted net income” of $1.1 billion, and it’s claiming that is the first time it’s exceeded “the $1 billion milestone.” But adjusted net income is a non-GAAP (generally accepted accounting principles) number that, in this case, does not include a nonrecurring and one-time fair-value loss due to the revaluation of financial warrants.

“Following Lenovo’s best year in history, we have now delivered our strongest quarter ever, with growth accelerating, profitability further improving, and AI emerging as a clear growth engine across every business group,” Lenovo chairman and CEO Yuanqing Yang. “Building on our leadership in PCs and Smart Devices, we are proud of our rapid emergence as a global leader in AI and Infrastructure, a clear validation of our strategic foresight. Powered by our Hybrid AI strategy, operational excellence, and relentless innovation, Lenovo is not only navigating market cycles but also seizing initiatives to win. We are confident in our ability to drive sustainable, long-term growth and deliver greater value for our shareholders.”

Lenovo’s Intelligent Devices Group delivered revenues of $17.1 billion in the quarter, a gain of 27 percent year-over-year (YOY). Despite selling 2 percent fewer computers in the quarter–16.6 million units–than it did in the year-ago quarter, Lenovo extended its lead in the PC market to 24.2 percent overall because the overall market fell 4.9 percent in the quarter. Lenovo said its market share in AI PCs is now 25.1 percent, while tablet revenues jumped 80 percent YOY, and smartphone revenues were up 15 percent YOY.

But Lenovo’s gains–and its near-term financial future–are all tied up in its Infrastructure Solutions Group, which nearly doubled revenues to $8.5 billion in the quarter. Lenovo says it is seeing “extraordinary growth” with Cloud Service Providers (CSPs) and enterprise and SMB businesses. The firm’s Solutions and Services Group added another $2.9 billion in revenues, a gain of 28 percent YOY.

Lenovo’s stock price gained over 20 percent thanks to its reported AI infrastructure successes, hitting a new high.