HP’s hardware sales down
August 23, 2019
HP Inc. announced fiscal 2019 third quarter net revenue of $14.6 billion (€13.11 billion), up 0.1 percent from the prior-year period although hardware sales and supplies sales are down.
HP reports that printing net revenue was down five percent year-on-year with a 15.6 percent operating margin. Total hardware units were down nine percent with commercial hardware units down four percent and consumer hardware units down ten percent. Supplies net revenue was down seven percent.
The OEM stated that it recorded continued revenue growth in contractual businesses including Instant Ink and MPS, its 3D ecosystem continues to expand with the opening of its Barcelona innovation centre and that innovations launched included its Neverstop, the world’s first toner tank, designed for small businesses in emerging markets and two extended JetIntelligence devices were introduced into the A3 portfolio. Total revenue for the segment in the third quarter was $4.9 billion (€4.4 billion) with an operating profit of $765 million (€686 million). Supplies revenue was recorded to be down seven percent year-on-year.
“We continued to deliver strong free cash flow and non-GAAP EPS growth, while raising our non-GAAP EPS outlook,” said Dion Weisler, HP’s President and CEO. “We are delivering industry leading innovation across our portfolio, and I am confident we are taking the right actions to position HP for the future.”
Personal Systems net revenue was up three percent year over year with a 5.6 percent operating margin. Commercial net revenue increased ten percent and consumer net revenue decreased 11 percent. Total units were up five percent with Notebooks units up two percent and Desktops units up 11 percent.
Categories : City News
Tags : Business Financials HP Inc OEM
