On The Rebound?
It's been a challenging time at Lenovo on a number of fronts, but the most recent quarter offered signs that the company is starting to bounce back. Lenovo reported what it termed "solid" results for its fiscal 2018 second quarter, ended Sept. 30, with major gains over its lackluster fiscal first quarter. The company "continued to make progress in transforming our business" during Q2, Lenovo Chairman and CEO Yang Yuanqing (pictured) said in a news release, with the firm's data center and PC businesses turning out respectable results in the quarter.
The quarterly report followed Lenovo's disclosure in October that it would lay off about 2 percent of its workforce, as part of an effort to become more cost-efficient and focus on key growth areas. Lenovo has been hit hard by increases in memory and component costs, and controversial recent moves have included a reduction in back-end rebate payments.
What follows are five key things to know about Lenovo's second-quarter results.