HP: Printing revenue continues to be down

May 30, 2024

HP Inc. and its subsidiaries (HP) announced fiscal 2024 second quarter net revenue of $12.8 billion (€11.8 billion), down 0.8% from the prior-year period.

Printing net revenue was $4.4 billion (€4.06 billion), down 8% year over year with a 19.0% operating margin. Consumer Printing net revenue was down 16% and Commercial Printing net revenue was down 12%. Supplies net revenue was down 5%.

Total hardware units were down 17%, with Consumer Printing units down 17% and Commercial Printing units down 17%.

Personal Systems (PS) net revenue was $8.4 billion (€7.77 billion), up 3% year over year with a 6.0% operating margin. Consumer PS net revenue was down 3% and Commercial PS net revenue was up 6%. Total units were up 7% with Consumer PS units down 1% and Commercial PS units up 12%.

“We delivered a solid quarter and first half, and unveiled an innovative portfolio of solutions designed for the AI and hybrid era,” said Enrique Lores, President and CEO, HP Inc. “We have a clear strategy and are well positioned to drive profitable growth across our business.”

 

Categories : City News

Tags : Business Financials HP Inc OEM