Hewlett Packard ships 9% fewer commercial printer units in Q3

Hewlett Packard said net revenue was up 10% for its fiscal third quarter ended July 31, reaching a total of $28 billion. The company's Imaging and Printing Group, however, demonstrated some weakness, with declines in hardware revenue and printer units shipped.

The company's operating profit rose 20% in the third quarter for a total of $2.5 billion. Earnings per share were $0.80, up from $0.66 last year.

In the Imaging and Printing Group, revenue grew 3% year-over-year for a total of $7 billion. Commercial hardware revenue declined 5% and consumer hardware revenue declined 14%. Printer unit shipments declined 2%, with consumer printer hardware units flat and commercial printer hardware units down 9%. The bright spot was supplies revenue, which grew 11%. Operating profit for the group was $1 billion, or 15% of revenue, compared to $981 million, or 14.5% of revenue in the prior-year period.

In the Personal Systems Group, revenue grew 15% for a total of $10.3 billion, with notebook revenue up 26% and desktop revenue up 6%.

The Enterprise Store and Servers division reported revenue of $4.7 billion, up 5%.

HP Services revenue increased 14% for a total of $4.8 billion while HP Software revenue grew 29% for a total of $781 million. HP Financial Services reported revenue totaling $680 million, an increase of 17% year over year.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions