Lenovo Group reported record third-quarter revenue of $22.2 billion, up 18% year-on-year, driven by strong growth in AI-focused businesses. The Hong Kong-listed PC giant saw AI-related revenue surge 72%, accounting for 32% of group sales, while its Infrastructure Solutions Group revenue jumped 31% to a record $5.2 billion.

Despite the revenue gains, reported profit fell 21% to $546 million due to a $285 million one-off restructuring charge tied to the Infrastructure Solutions Group. Operating profit climbed 38% to $948 million, and profit before tax increased 58% to $818 million. The company's shares fell 2% to HK$9.21 in morning trading following the results.

Lenovo expects its Infrastructure Solutions Group to return to breakeven by fiscal year-end and deliver over $200 million in annualized savings through FY2028/29 as it targets sustained profitability amid rising AI demand. The company's performance highlights the growing importance of AI computing in driving revenue growth, even as restructuring costs temporarily impact profitability.