Lenovo Q1 revenue jumps 43%

Lenovo reported a 43% jump in quarterly revenue to $26.94 billion for the three months ending June 30, beating analyst expectations of $22.3 billion. The company swung to a net loss attributable to shareholders of $609 million, primarily due to a non-cash fair value loss of $1.7 billion from the revaluation of warrants issued in 2025. AI-related revenue grew 60% year-on-year to $9.3 billion, accounting for 35% of total revenue. Adjusted net income more than doubled to $1.075 billion. Lenovo's shares hit an all-time high and surged as much as 17% after the results. The company benefited from AI hardware demand and a global memory chip shortage, while its US competitors Dell, HP, and Super Micro have raised prices by 10% to 30% due to soaring NAND and DRAM costs. Lenovo retained its market lead with a 25.6% share in Q2 2026, and its AI server pipeline reached $54.0 billion, up 157% quarter-over-quarter.