Lenovo today reported first quarter results for fiscal year 2026/27, marking the highest quarterly revenue growth in the past five years and the strongest quarter in the Group’s history. During the quarter, overall Group revenue reached an all-time quarterly high of US$26.9 billion, up 43% year-on-year, with all business groups delivering record first-fiscal-quarter revenue and operating profit. Adjusted net income** [1] **was up 176% year-on-year to US$1.1 billion, surpassing the US$1 billion milestone for the first time ever, with adjusted net margin improvements of almost two percentage points year-on-year supported by higher revenue scale and continued efficiency gains. AI-related revenue
grew 60% year-on-year to US$9.3 billion, accounting for 35% of total Group revenue in Q1. The Group continues to invest in innovation with R&D expenses up 30% year-on-year.
*[2]*Read more in the full press release. *[1] **Note on adjusted net income (profit attributable to equity holders): **Adjusted measure was defined as financial metric by excluding net fair value changes on financial assets at fair value through profit or loss, amortization of intangible assets resulting from mergers and acquisitions, merger and acquisitions related charges, impairment and write-off of intangible assets, property, plant and equipment and construction-in-progress, fair value change on derivative financial liabilities relating to warrants, notional interest on convertible bonds, and impairment of interests in associates; and the corresponding income tax effects, if any. *
** [2] Note on AI-related revenue: **AI Devices: PCs and Smartphones equipped with NPU; AI Servers: GPU Servers; AI Services: Services that enable customer to build, scale & manage AI.