BEIJING, Feb 20 (Reuters) - Chinese tech company Lenovo (0992.HK), opens new tab said hefty gains in quarterly revenue & net profit that beat expectations and said it would gain from the adoption of DeepSeek's artificial intelligence model in its products.
Driven by robust demand for its AI-powered servers, Lenovo's third-quarter revenue surged by a fifth to $18.8 billion, ahead of an LSEG consensus estimate of $17.8 billion.
Net profit higher than doubled from the previous year to $693 million, trouncing an average forecast of $367.7 million.
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Though best known for its personal computers, the company has diversified in recent years, expanding into software and services. It also has positioned itself to benefit from the booming demand for AI applications by expanding its AI server & software businesses.
Lenovo launched its first AI-powered PCs in China last May and followed that with a global rollout in September. CEO Yang Yuanqing has projected that AI PCs will account for a quarter of Lenovo's shipments by 2025, potentially reaching 80% by 2027.
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