Lenovo FY22 Q2 results are in: $17.9 billion in revenue, despite chip shortages
Lenovo had a good second quarter of its fiscal year.
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What you need to know
Though it was already known that Lenovo was leading the pack in the notebook PC space thanks to a recent report byStrategy Analytics, we now know how well the overall business is doing. According to Lenovo, it achieved $17.9 billion in revenue for Q2 FY22.
$17.9 billion represents a 23% YoY increase in revenue compared to the previous fiscal year’s second quarter. Lenovo’s net income saw a much larger spike with $512 million in profit, which was a 65% YoY jump.
The company attributed its quarterly successes to its ability to secure more supplies than the competition but admitted the global semiconductor crisis has had noteworthy impacts on its business operations nonetheless (viaReuters). CEO and Chairman Yang Yuanqing spoke to Reuters, revealing that he feels the shortages won’t resolve until early 2022, with that being the best-case scenario.
Lenovo isn’t the only company to rake in a ton of money but still feel the sting of supply chain issues. Microsoft brought in$45.3 billionduring its last quarter, but cited chip shortages for itsdecline in Surface revenue. Surface revenue seeing a dip certainly didn’t come about because of neglect on Microsoft’s part; the line recently introduced a large wave of new products, including theSurface Duo 2.
With regards to Chinese technology businesses besides Lenovo Group Ltd, another to recently make headlines wasTencent, which detailed three of its new, in-development chips alongside an announcement for a new cloud operating system named Orca.
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Robert Carnevale is the News Editor for Windows Central. He’s a big fan of Kinect (it lives on in his heart), Sonic the Hedgehog, and the legendary intersection of those two titans, Sonic Free Riders. He is the author ofCold War 2395. Have a useful tip? Send it to robert.carnevale@futurenet.com.
