Justin Kahn
Posts: 752 +6
Lenovo has now released its 2013/14 Q3 financials, posting record breaking numbers for the company as well positive revenue and shipment numbers. While the company is the world's largest PC maker, its mobile business is showing significant signs of growth as well.
The company brought in revenue of $10.8 billion in the quarter, marking the first time the Chinese tech giant surpassed the $10 billion milestone. According to reports, the 15% year-over-year revenue jump is due partly to the company's increased non-PC shipments including a 47% jump in smartphone shipments and triple the amount of tablets. As for PC numbers, even though laptop computer shipments were down 6.3% across the industry, the company's consolidated sales came to around $5.4 billion, an increase of 11 percent year-over-year according to Lenovo.
Both earnings and pre-tax income jumped 30% year-over-year at $265 million and $321 million respectively. Lenovo shipped 32.6 million devices over the quarter, which it points out as being about five devices every second.
After the announcement of today's earnings report, Lenovo CEO Yang Yuanqing said that the company's recent Motorola acquisition, among others, will cause declines in the company's near future numbers. He said in the short term the deals "will have a negative impact on performance" and, with specific regard to Motorola, it could take anywhere from three to five quarters to get things moving in the right direction.
