Lenovo FY27 Q1 swings to US$ 609 million net loss; revenue rises 43% to US$ 26.9 billion

• Lenovo posted record quarterly revenue of US$ 26.9 billion, up 43% year-on-year; net loss attributable to equity holders was US$ 609 million.
• Loss was driven by a non-cash fair value loss of US$ 1.7 billion from revaluing 2025-issued warrants; operating profit fell 98% to US$ 19 million.
• Non-HKFRS adjusted profit attributable to equity holders rose to US$ 1.08 billion from US$ 389 million, excluding warrant revaluation and other non-cash items.
• ISG revenue more than doubled to US$ 8.5 billion; operating margin expanded to 9.1% as the AI server pipeline climbed to US$ 54 billion.
• IDG revenue rose 27% to US$ 17.1 billion; PC market share increased 0.5 percentage points to 24.2% while SSG revenue climbed 28% to US$ 2.9 billion.

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