Lenovo’s stronger-than-expected fiscal Q1 results lift shares of PC rivals HP and Dell in early trading.
HP and Dell Technologies shares climbed 6% and 3%, respectively, in premarket trading Thursday following Lenovo’s fiscal first-quarter report. Lenovo’s revenue surged 43.1% year-over-year for the period ending June 30, exceeding market expectations.
The results mark a sharp rebound from prior-year declines in the PC sector, which had faced weakening demand and inventory corrections. Analysts had anticipated a softer recovery, making Lenovo’s growth a positive signal for the broader industry.
The gains in HP and Dell suggest investors view Lenovo’s performance as an indicator of improving demand across the PC market.