HP Sees Higher PC Sales, Growth in Printer and Copier Business

HP Sees Higher PC Sales, Growth in Printer and Copier Business
Highlights
  • Revenue from HP's personal systems unit rose 12 percent to $8.40 billion
  • Revenue from its printer, copier business rose to $4.70 billion in Q3
  • Total revenue rose 10 percent to $13.1 billion

HP, which houses the hardware business of former Hewlett-Packard, reported a slightly higher-than-expected quarterly profit as it sold more personal computers.

Revenue from HP's personal systems unit, which sells notebooks, desktops and workstations, rose 12 percent to $8.40 billion (roughly Rs. 53,824 crores) in the third quarter ended July 31. Notebook sales increased 16.4 percent, offsetting a dip in desktop sales.

The Palo Alto, California-based company forecast full-year earnings per share of $1.63-$1.66 compared with analysts' estimate of $1.64, according to Thomson Reuters I/B/E/S.

The company, which bought Samsung Electronics Co's printer business in September, said on Wednesday revenue from its printer and copier business rose 6.2 percent to $4.70 billion (roughly Rs. 30,112 crores) in the reported quarter.

However, net earnings from continuing operations fell to $696 million, or 41 cents per share, from $843 million, or 49 cents per share.

Total revenue rose 10 percent to $13.1 billion (roughly Rs. 83,933 crores), beating analysts' average estimate of $12.31 billion.

Excluding items, the company earned 43 cents per share. Analysts on average expected earnings of 42 cents.

Shares of HP, which have gained 27 percent since the start of the year, were down marginally in after-hours trading on Wednesday.

© Thomson Reuters 2017

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: HP, HP Earnings, PC, Laptops, Internet
Uber Reports Increased Bookings, Narrower Loss
Samsung Galaxy Note 8 First Impressions

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2021. All rights reserved.
Listen to the latest songs, only on JioSaavn.com