Lenovo reported its FY17 Q1 results with revenues of $10 billion and a net loss of $72 million. The quarterly revenues recorded were the same as in FY16 Q1 while the net income of $173 million turned into a net loss in the current quarter. The company’s gross profit for FY17 Q1 decreased 11% on yearly basis to reach $1.4 billion, resulting in a gross profit margin of 14%.
The company has introduced its 3-wave strategy including balancing PCSD growth and profit, accelerating the DCG and MBG growth engines, and investing in non-hardware areas to meet the current market dynamics while positioning the company for longer-term profitable growth.
