HONG KONG, May 27, 2021 – Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced record results for the Group for both its fourth quarter and fiscal year, with phenomenal growth across all parts of the business. The results demonstrate the Group’s resilience and ability to achieve balanced, consistent, and sustainable growth as it continues to diversify and transform in line with its 3S (Smart IoT, Smart Infrastructure, Smart Solutions) corporate strategy. Fourth quarter Group revenue grew at 48% year-to-year to US$15.6 billion. Profit recorded its highest growth rate in two years – with pre-tax income of US$380 million and net income of US$260 million – up 392% and 512% respectively. The Q4 results closed out a record year, with annual Group revenue surging past US$60 billion, adding more than US$10 billion on the previous fiscal year. Profit grew even faster, with pre-tax income of almost US$1.8 billion and net income of US$1.2 billion – both up more than 70% year-on-year. Lenovo’s Board of Directors declared a final dividend of 3.09 US cents or 24 HK cents per share for the fiscal year ended March 31, 2021. “Last quarter, we delivered our fastest growing quarter in almost a decade and closed the fiscal year with the new milestone of passing US$60 billion in revenue and significant growth in profit to a new record. These historic highs were achieved by leveraging our core competencies of a clear strategy, innovative products, operational excellence, and global-local model to meet the new needs in the New Normal.” said Yuanqing Yang, Lenovo Chairman and CEO. “Looking forward, we will capture the huge growth opportunities created by the market trends of information consumption upgrade, infrastructure upgrade and application upgrade to drive long-term sustainable growth and ensure we can build an even smarter future in the years ahead.”
Nvidia Q1 revenue up 84% to $5.7B YoY, beats estimates
https://youtu.be/kH6_lo70drM
Nvidia Corporation published its financial results for the first quarter of the fiscal year 2022 on Wednesday, marking a staggering 84% jump in revenue to $5.7 billion, compared to the same period of last year. The figure is also 13% higher from the last fiscal quarter. The company’s net income reached $1.9 billion, which is up 109% year-on-year and 31% higher than the fourth quarter of last fiscal year. GAAP earnings per diluted share marked a 106% increase from the comparable period of last year to $3.03 per share. “We had a fantastic quarter, with strong demand for our products driving record revenue. […] NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Our partners are launching the largest-ever wave of NVIDIA-powered laptops. Across industries, the adoption of NVIDIA computing platforms is accelerating,” said Jensen Huang, founder and CEO of Nvidia. Nick Note: Earnings like these demonstrate why i am so jazzed about high tech. Its all based on computers and smart phones in the hands of the masses. And its takes faster more powerful computers and smart phones to be able to takes advantage of the wonderful new world we all live in like it or not. People are upgrading like never seen before.