Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), today announced Q3 results for fiscal year 2024/25, reporting significant increases in overall group revenue and profit. Revenue grew 20% year-on-year to US$18.8 billion, marking the third consecutive quarter of double-digit growth. Net income more than doubled year-on-year to US$693 million (including a non-recurring income tax credit of US$282 million) on a Hong Kong Financial Reporting Standards (HKFRS) basis. The Group's diversified growth engines continue to accelerate, with non-PC revenue mix up more than four points year-on-year to 46%. The quarter's results were driven by the Group's focused hybrid-AI strategy, the turnaround of the Infrastructure Solutions Group, as well as double-digit growth for both the Intelligent Devices Group and Solutions and Services Group.

Lenovo continues to invest in R&D, with R&D expenses up nearly 14% year-on-year to US$621 million. At the recent global technology event CES 2025, Lenovo launched a series of innovative products, including the world's first rollable AI laptop, the world's first handheld gaming device that allows gamers free choice of Windows OS or Steam OS, as well as Moto AI - winning 185 industry awards for its portfolio of innovation.

ASE Technology Holding Co., Ltd., the leading provider of semiconductor assembly and testing services ("ATM") and the provider of electronic manufacturing services ("EMS"), today reported its unaudited net revenues of NT$162,264 million for 4Q24, up by 1.0% year-over-year and up by 1.3% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT9,312 million, down from NT$9,392 million in 4Q23 and down from NT$9,733 million in 3Q24. Basic earnings per share for the quarter were NT$2.15 (or US$0.134 per ADS), compared to NT$2.18 for 4Q23 and NT$2.25 for 3Q24. Diluted earnings per share for the quarter were NT$2.07 (or US$0.129 per ADS), compared to NT$2.13 for 4Q23 and NT$2.18 for 3Q24.

For the full year of 2024, the Company reported unaudited net revenues of NT$595,410 million and net income attributable to shareholders of the parent of NT$32,483 million. Basic earnings per share for the full year of 2024 were NT$7.52 (or US$0.470 per ADS). Diluted earnings per share for the full year of 2024 were NT$7.23 (or US$0.452 per ADS).

People are using AI more and more at home, at work, in school, and everywhere in between. According to the most recent Microsoft Global Online Safety Survey, there has been a global increase in active generative AI users. Our findings showed that in 2024, 51% of people are users or experimenters of generative AI compared to 38% in 2023. Generation Z continues to drive this adoption with 64% of young adults reporting ever using the technology. That means it's up to us - especially those of us who work in technology and gaming - to make sure that young people have the support they need to navigate the world of AI safely while also fostering their curiosity and creativity in exploring these new technologies.

That's why, for Safer Internet Day 2025, Minecraft Education is releasing a new installment in the CyberSafe series where players can explore the risks and opportunities of AI use through fun, game-based challenges. In each instance, players are tasked with articulating guidelines for how to use AI safely and responsibly. Welcome to CyberSafe AI: Dig Deeper, available free on the Minecraft Marketplace and in Minecraft Education!

GlobalFoundries Inc. (GF), today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2024.

"In the fourth quarter, the GF team delivered solid financial results that exceeded the Non-IFRS midpoint of the guidance ranges we provided in our November earnings release," said Dr. Thomas Caulfield, President and CEO of GF. "2024 presented a unique set of challenges for our industry, but thanks to our focus on operational excellence, we generated over $1 billion of Non-IFRS adjusted free cash flow. As we look to 2025, we are encouraged by our strong design win momentum across our end markets and product portfolio as we position GF for a growth year."

AMD today announced financial results for the fourth quarter and full year of 2024. Fourth quarter revenue was a record $7.7 billion, gross margin was 51%, operating income was $871 million, net income was $482 million and diluted earnings per share was $0.29. On a non-GAAP basis, gross margin was 54%, operating income was a record $2.0 billion, net income was a record $1.8 billion and diluted earnings per share was $1.09.

For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, net income of $1.6 billion, and diluted earnings per share of $1.00. On a non-GAAP basis, gross margin was a record 53%, operating income was $6.1 billion, net income was $5.4 billion and diluted earnings per share was $3.31.

LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending December 31, 2024.

• Revenues in the fourth quarter of 2024 increased by 15% to KRW 7,833 billion from KRW 6,821 billion in the third quarter of 2024 and increased by 6% from KRW 7,396 billion in the fourth quarter of 2023.
• Operating profit in the fourth quarter of 2024 recorded KRW 83.1 billion. This compares with the operating loss of KRW 80.6 billion in the third quarter of 2024 and with the operating profit of KRW 132 billion in the fourth quarter of 2023.
• EBITDA profit in the fourth quarter of 2024 was KRW 1,306 billion, compared with EBITDA profit of KRW 1,162 billion in the third quarter of 2024 and with EBITDA profit of KRW 1,272 billion in the fourth quarter of 2023.
• Net loss in the fourth quarter of 2024 was KRW 839 billion, compared with the net loss of KRW 338 billion in the third quarter of 2024 and with the net income of KRW 50.5 billion in the fourth quarter of 2023.

Seagate Technology Holdings plc (the "Company" or "Seagate"), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal second quarter ended December 27, 2024. "Seagate ended calendar 2024 on a strong note as we grew revenue, gross margin and non-GAAP EPS successively in each quarter of the year.

Our results demonstrate structural improvements in the business and our focus on value capture in an improving demand environment, highlighted by decade-high gross margin performance exiting the December quarter," said Dave Mosley, Seagate's chief executive officer. "We are advancing our technology roadmap to meet our customers' growing need for scalable, cost efficient and sustainable storage solutions in the age of AI. We began ramping HAMR-based Mozaic products to our lead cloud customer in the December quarter and are already sampling in capacities of up to 36 terabytes. Looking ahead, we believe Seagate is in a great position to deliver profitable growth in fiscal 2025," Mosley concluded.

Nanya Technology Corporation, today announced its results of operations for the fourth quarter, ended December 31, 2024. Nanya's quarterly sales revenue was NT$ 6,575 million, a 19.2 percent decrease compared to that in the third quarter of 2024. In the fourth quarter of 2024, average selling prices (ASP) decreased by low-teens percent and bit shipment decreased by high-single digit percent quarter over quarter.

Gross loss of the quarter was NT$ 695 million; gross margin was -10.6 percent, a 13.8 percentage points decrease from that in the previous quarter. Operating loss of the quarter was NT$ 2,812 million; operating margin was -42.8 percent; a 12.0 percentage points decrease from that in the last quarter. Non-operating income of the quarter was NT$ 900 million. The Company had net loss of NT$ 1,574 million, with net margin of -23.9 percent. Earnings per share (EPS) was NT$ -0.51 in the fourth quarter (based on weighted average outstanding shares of 3,099 million).

Micron Technology, Inc. today announced results for its first quarter of fiscal 2025, which ended November 28, 2024.

Fiscal Q1 2025 highlights

• Revenue of $8.71 billion versus $7.75 billion for the prior quarter and $4.73 billion for the same period last year
• GAAP net income of $1.87 billion, or $1.67 per diluted share
• Non-GAAP net income of $2.04 billion, or $1.79 per diluted share
• Operating cash flow of $3.24 billion versus $3.41 billion for the prior quarter and $1.40 billion for the same period last year

"Micron delivered a record quarter, and our data center revenue surpassed 50% of our total revenue for the first time," said Sanjay Mehrotra, President and CEO of Micron Technology. "While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year. We continue to gain share in the highest margin and strategically important parts of the market and are exceptionally well positioned to leverage AI-driven growth to create substantial value for all stakeholders."

Steam's monthly hardware and software surveys provide a decent picture of what hardware and software gamers rely on to play their favorite games—at least those on Valve's game platform. Since the launch of Windows 11, it has been a somewhat reliable way to track the adoption of the new Windows version, and, as the official cut-off for Windows 10 support draws near, one would expect Windows 11 to pick up steam, especially among gamers, where Windows is the dominant OS. The results of the November Steam Survey are in, and while not much has changed on the hardware front, it seems like Microsoft is indeed wearing gamers down when it comes to Windows 11 adoption. Despite seeing a decent uptick in Windows 11 installations, the overall Windows market share dropped, even if almost imperceptibly, while Linux and macOS both saw a slight uptick in adoption among Steam gamers. As expected, Windows remained the dominant platform for gamers, but Windows 11, specifically, saw growth of 4.18%, while Windows 10 lost 4.15%, which is almost an exact 1:1 match, indicating that gamers are largely staying on Windows when they finally decide to move on from Windows 10. Overall, Windows lost 0.05% market share, compared to Linux, which gained 0.03% and macOS, which grew by 0.02%.

Valve's SteamOS Holo was the most popular Linux version in the survey, but it, too, slid by 0.28%. Of course, the hardware split for Linux is representative of the software side of things, which is to say: It's mostly just Steam Decks. As expected, most of the video cards and CPUs in the Linux results were AMD GPUs, with well over 36% of the sampled Linux gamers using AMD GPUs, even disregarding the obvious bias introduced by the AMD-powered Steam Deck hardware. The most popular NVIDIA GPU on Linux systems running Steam is currently the GeForce RTX 3060, at a mere 1.46% of the market share. Meanwhile, on Windows side, 5.03% of gamers are using the GTX 3060, with the next most popular GPU being the NVIDIA GeForce RTX 4060 Laptop GPU, at 4.92%.

HP Inc. and its subsidiaries ("HP") announced fiscal 2024 net revenue of $53.6 billion, down 0.3% (down 0.2% in constant currency) from the prior-year period. Fiscal 2024 GAAP diluted net EPS was $2.81, down from $3.26 in the prior-year and above the previously provided outlook of $2.62 to $2.72. Fiscal 2024 non-GAAP diluted net EPS was $3.38, up from $3.28 in the prior-year period and within the previously provided outlook of $3.35 to $3.45. Fiscal 2024 non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $564 million, or $0.57 per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, debt extinguishment costs, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

Fourth quarter net revenue was $14.1 billion, up 1.7% (up 2.3% in constant currency) from the prior-year period. Fourth quarter GAAP diluted net EPS was $0.93, down from $0.97 in the prior-year period and above the previously provided outlook of $0.74 to $0.84. Fourth quarter non-GAAP diluted net EPS was $0.93, up from $0.90 in the prior-year period and within the previously provided outlook of $0.89 to $0.99. Fourth quarter non-GAAP net earnings and non-GAAP diluted net EPS excludes after-tax adjustments of $6 million, or nil per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, debt extinguishment costs, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

Dell Technologies announces financial results for its fiscal 2025 third quarter. Revenue was $24.4 billion, up 10% year over year. Operating income was $1.7 billion and non-GAAP operating income was $2.2 billion, both up 12% year over year. Diluted earnings per share was $1.58, and non-GAAP diluted earnings per share was $2.15, up 16% and 14% year over year, respectively.

"We continued to build on our AI leadership and momentum, delivering combined ISG and CSG revenue of $23.5 billion, up 13% year over year," said Yvonne McGill, chief financial officer, Dell Technologies. "Our continued focus on profitability resulted in EPS growth that outpaced revenue growth, and we again delivered strong cash performance."

NVIDIA today reported revenue for the third quarter ended October 27, 2024, of $35.1 billion, up 17% from the previous quarter and up 94% from a year ago. For the quarter, GAAP earnings per diluted share was $0.78, up 16% from the previous quarter and up 111% from a year ago. Non-GAAP earnings per diluted share was $0.81, up 19% from the previous quarter and up 103% from a year ago.

"The age of AI is in full steam, propelling a global shift to NVIDIA computing," said Jensen Huang, founder and CEO of NVIDIA. "Demand for Hopper and anticipation for Blackwell—in full production—are incredible as foundation model makers scale pretraining, post-training and inference.

Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), today announced Q2 results for fiscal year 2024/25, reporting significant increases and growth in net income, year-on-year revenue growth for the 4th consecutive quarter, and strong double-digit year-on-year revenue increases from all its business groups. Group revenue increased 24% year-on-year to US$17.9 billion. Net income was up 48% year-on-year to US$404 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)[1] basis, and non-PC revenue mix was up five points year-to-year to 46%. The Group's results reflect its clear strategy, operational excellence, investment in R&D, innovations in hybrid AI, and global footprint.

The Group's hybrid AI strategy and years of continuous investment in R&D and innovations are paying off, with its first phase of AI PCs, launched in China in May 2024, already reaching double digit share of its total notebook shipments in the China market. Recent launches of AI PCs for the global market with Lenovo AI Now have also been received positively. For enterprise AI, the Group is leveraging its full-stack hybrid infrastructure as well as Lenovo Hybrid AI Advantage to capture growth opportunities. This relentless focus on AI innovation as well as investment in R&D (up 10% year-on-year to US$548 million) is firmly establishing the Group's market differentiation and industry leadership.

Semiconductor Manufacturing International Corporation (SMIC), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended September 30, 2024.

Third Quarter 2024 Highlights

• Revenue was $2,171.2 million in 3Q24, compared to $1,901.3 million in 2Q24, and $1,620.6 million in 3Q23.
• Gross profit was $444.2 million in 3Q24, compared to $265.1 million in 2Q24, and $321.6 million in 3Q23.
• Gross margin was 20.5% in 3Q24, compared to 13.9% in 2Q24 and 19.8% in 3Q23.

GlobalFoundries Inc. (GF) today announced preliminary financial results for the third quarter ended September 30, 2024.

Key Third Quarter Financial Highlights

• Revenue of $1.739 billion
• Gross margin of 23.8% and Non-IFRS gross margin of 24.7%
• Operating margin of 10.6% and Non-IFRS operating margin of 13.6%
• Net income of $178 million and Non-IFRS net income of $229 million
• Non-IFRS adjusted EBITDA of $627 million
• Cash, cash equivalents and marketable securities of $4.3 billion
• Year to date net cash provided by operating activities of $1,265 million and Non-IFRS adjusted free cash flow of $779 million

Apple today announced financial results for its fiscal 2024 fourth quarter ended September 28, 2024. The Company posted quarterly revenue of $94.9 billion, up 6 percent year over year, and quarterly diluted earnings per share of $0.97. Diluted earnings per share was $1.64,1 up 12 percent year over year when excluding the one-time charge recognized during the fourth quarter of 2024 related to the impact of the reversal of the European General Court's State Aid decision.

"Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago," said Tim Cook, Apple's CEO. "During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season."

Intel Corporation today reported third-quarter 2024 financial results.

"Our Q3 results underscore the solid progress we are making against the plan we outlined last quarter to reduce costs, simplify our portfolio and improve organizational efficiency. We delivered revenue above the midpoint of our guidance, and are acting with urgency to position the business for sustainable value creation moving forward," said Pat Gelsinger, Intel CEO. "The momentum we are building across our product portfolio to maximize the value of our x86 franchise, combined with the strong interest Intel 18A is attracting from foundry customers, reflects the impact of our actions and the opportunities ahead."

Samsung Electronics today reported financial results for the third quarter ended Sept. 30, 2024. The Company posted KRW 79.1 trillion in consolidated revenue, an increase of 7% from the previous quarter, on the back of the launch effects of new smartphone models and increased sales of high-end memory products. Operating profit declined to KRW 9.18 trillion, largely due to one-off costs, including the provision of incentives in the Device Solutions (DS) Division. The strength of the Korean won against the U.S. dollar resulted in a negative impact on company-wide operating profit of about KRW 0.5 trillion compared to the previous quarter.

In the fourth quarter, while memory demand for mobile and PC may encounter softness, growth in AI will keep demand at robust levels. Against this backdrop, the Company will concentrate on driving sales of High Bandwidth Memory (HBM) and high-density products. The Foundry Business aims to increase order volumes by enhancing advanced process technologies. Samsung Display Corporation (SDC) expects the demand of flagship products from major customers to continue, while maintaining a quite conservative outlook on its performance. The Device eXperience (DX) Division will continue to focus on premium products, but sales are expected to decline slightly compared to the previous quarter.

Electronic Arts (NASDAQ: EA) today announced preliminary financial results for its second quarter ended September 30, 2024. "EA delivered another strong quarter with record Q2 net bookings, driven by our incredible teams, broad portfolio and technology leadership," said Andrew Wilson, CEO of EA. "The momentum in our business reinforces our strategic vision to deliver innovative experiences and interactive entertainment that deepens and expands engagement across our global communities."

"Q2 was another successful quarter for EA, exceeding the high end of our guidance range. As a result, we are also raising our FY25 outlook," said Stuart Canfield, CFO of EA. "We remain confident in our ability to drive long-term value creation through increased scale, driving top-line growth, improved margins, and greater cash flow as shared at our Investor Day."

AMD today announced revenue for the third quarter of 2024 of $6.8 billion, gross margin of 50%, operating income of $724 million, net income of $771 million and diluted earnings per share of $0.47. On a non-GAAP basis, gross margin was 54%, operating income was $1.7 billion, net income was $1.5 billion and diluted earnings per share was $0.92.

"We delivered strong third quarter financial results with record revenue led by higher sales of EPYC and Instinct data center products and robust demand for our Ryzen PC processors," said AMD Chair and CEO Dr. Lisa Su. "Looking forward, we see significant growth opportunities across our data center, client and embedded businesses driven by the insatiable demand for more compute."

Western Digital Corp. today reported fiscal first quarter financial results. "Western Digital's performance in the fiscal first quarter demonstrates our commitment to operational excellence and disciplined capital investment as our focus on lasting quality and reliability, driven by industry leading innovation and a diversified portfolio, has allowed us to target the most attractive end markets to improve profitability." said David Goeckeler, Western Digital CEO.

"The strength of our diversified product portfolio is demonstrated by the rapid emergence of enterprise SSD as a core pillar of growth within our Flash business. The strength of our HDD product portfolio lies in our UltraSMR technology, delivering the industry's highest capacity hard drives with unmatched reliability, quality, and performance, offering a compelling TCO to our customers. With the continued proliferation of the AI Data Cycle, our Flash and HDD product portfolios are well-positioned to capitalize on significant opportunities as adoption continues to grow." continued David Goeckeler.

Micron Technology, Inc. today announced results for its fourth quarter and full year of fiscal 2024, which ended August 29, 2024.

Fiscal Q4 2024 highlights

• Revenue of $7.75 billion versus $6.81 billion for the prior quarter and $4.01 billion for the same period last year
• GAAP net income of $887 million, or $0.79 per diluted share
• Non-GAAP net income of $1.34 billion, or $1.18 per diluted share
• Operating cash flow of $3.41 billion versus $2.48 billion for the prior quarter and $249 million for the same period last year

Fiscal 2024 highlights

• Revenue of $25.11 billion versus $15.54 billion for the prior year
• GAAP net income of $778 million, or $0.70 per diluted share
• Non-GAAP net income of $1.47 billion, or $1.30 per diluted share
• Operating cash flow of $8.51 billion versus $1.56 billion for the prior year

NVIDIA today reported revenue for the second quarter ended July 28, 2024, of $30.0 billion, up 15% from the previous quarter and up 122% from a year ago. For the quarter, GAAP earnings per diluted share was $0.67, up 12% from the previous quarter and up 168% from a year ago. Non-GAAP earnings per diluted share was $0.68, up 11% from the previous quarter and up 152% from a year ago.

"Hopper demand remains strong, and the anticipation for Blackwell is incredible," said Jensen Huang, founder and CEO of NVIDIA. "NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI."

Today, MLCommons published results of its industry-standard AI performance benchmark suite, MLPerf Inference v4.1. Intel submitted results across six MLPerf benchmarks for 5th Gen Intel Xeon Scalable processors and, for the first time, Intel Xeon 6 processors with Performance-cores (P-cores). Intel Xeon 6 processors with P-cores achieved about 1.9x geomean performance improvement in AI performance compared with 5th Gen Xeon processors.

"The newest MLPerf results show how continued investment and resourcing is critical for improving AI performance. Over the past four years, we have raised the bar for AI performance on Intel Xeon processors by up to 17x based on MLPerf. As we near general availability later this year, we look forward to ramping Xeon 6 with our customers and partners," said Pallavi Mahajan, Intel corporate vice president and general manager of Data Center and AI Software.