智通财经网·2026-02-12 09:26Core Viewpoint - Goldman Sachs reported that Lenovo Group (00992) exceeded expectations for its quarterly performance ending last December, with a revenue increase of 18% to $22 billion, surpassing the bank's and market consensus by 8% and 7% respectively [1] Financial Performance - Revenue increased by 18% year-on-year to $22 billion, exceeding Goldman Sachs' and market consensus expectations [1] - Gross margin remained stable at 15.1%, slightly down from 15.4% in the previous quarter, aligning closely with consensus expectations of 15.2% and 15.4% [1] - Adjusted operating expense ratio improved from 11.7% in the previous quarter to 11%, better than Goldman Sachs' expectation of 12.1% [1] - Adjusted operating profit grew by 28% year-on-year to $903 million, exceeding Goldman Sachs' expectations by 39% [1] - Adjusted net profit increased by 35% year-on-year to $589 million, surpassing Goldman Sachs' expectations by 50% [1] Investment Rating - Goldman Sachs maintains a "Buy" rating for Lenovo Group with a target price of HKD 11.98 [1]