The Chinese company Lenovo called the suspension of tariffs between the United States and China a positive factor for business and noted a steady increase in the infrastructure of artificial intelligence (AI) in the country. The decision on a temporary pause was made 90 days before November and avoids high duties on goods of both countries, providing temporary relief for companies.
The revenue of Lenovo for the first quarter of the financial year, which ended on June 30, increased by 22% compared to last year and amounted to $ 18.8 billion, exceeding the forecast of analysts of $ 17.4 billion. The company connects such a result with great demand for solutions in the field of artificial intelligence, while all three main areas of business showed two -digit growth.
According to the results of the quarter, the net profit of Lenovo has more than doubled and reached $ 505 million, significantly exceeding the market expectations of 307.7 million. More than 30% of all supplies of the company’s PC amounted to devices with AI support, and business servers for artificial intelligence grew by 150% due to high internal demand.
