Lenovo Group reported revenue of US$18.796 billion for the third quarter of fiscal 2024/25, up 20% year on year from US$15.721 billion. The company announced the result on February 20, 2025; US$18.8 billion is the rounded figure, and the 20% increase applies specifically to that quarter.
Which quarter did Lenovo report $18.8 billion in revenue?
The figure belongs to Lenovo’s third quarter of fiscal 2024/25. Its February 20, 2025 results release reported revenue of US$18.796 billion, rounded to US$18.8 billion, compared with US$15.721 billion a year earlier. Lenovo’s quarterly financial data also records the precise Q3 figure.
It is easy to confuse this result with a later quarter: Lenovo reported US$18.8 billion in revenue for Q1 FY2025/26 as well, but that quarter’s year-on-year increase was 22%, not 20%. The August 14, 2025 release covers that separate result.
What did Lenovo say drove the increase?
Lenovo attributed the quarter’s growth to its hybrid-AI strategy, a turnaround at its Infrastructure Solutions Group (ISG), and double-digit growth in its Intelligent Devices Group (IDG) and Solutions and Services Group (SSG). These are the company’s stated explanations; the release does not quantify how much of the revenue increase each factor produced.
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Devices and PC sales
IDG reported US$13.8 billion in revenue, up 12% year on year. Lenovo also said its PC business held a 24.3% market share, almost five percentage points ahead of the number-two player. Those figures give context for the devices business but are not a full breakdown of what generated the group’s total revenue growth.
Infrastructure and services
Lenovo said ISG returned to profitability, while SSG recorded double-digit growth. The reported information supports those statements about the quarter, but it does not establish the separate contribution of either group to the overall 20% increase.
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Did Lenovo’s profit also increase?
Yes. Lenovo reported net income of US$693 million for Q3 FY2024/25, compared with US$337 million a year earlier. However, the current-quarter figure included a non-recurring US$282 million income tax credit, so revenue growth and reported net-income growth should not be treated as interchangeable measures of operating performance.
Lenovo also reported that non-PC revenue made up 46% of the mix, an increase of more than four percentage points year on year. That describes the composition of revenue, rather than a separate measure of profit.
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How does the result compare with Lenovo’s more recent revenue?
The 20% increase is a historical result for Q3 FY2024/25, not a description of Lenovo’s current growth rate. As of October 8, 2026, the latest result identified was Q1 FY2026/27: Lenovo reported revenue of US$26.9 billion, up 43% year on year, in its August 13, 2026 release.
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