Lenovo Group Third Quarter 2024 Earnings: Beats Expectations

Lenovo Group (HKG:992) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$15.7b (up 3.0% from 3Q 2023).
• Net income: US$337.0m (down 23% from 3Q 2023).
• Profit margin: 2.1% (down from 2.9% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.028 (down from US$0.037 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Lenovo Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Tech industry in Asia.

Performance of the market in Hong Kong.

The company's shares are up 2.0% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 4 warning signs for Lenovo Group that you need to be mindful of.

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