HP fiscal 4Q revenues drop 8% from 2008
HP, which includes consumer and business-to-business printing units, reported preliminary fiscal fourth-quarter revenues of $30.8 billion, a decrease of 8% from the year prior. The company disclosed that the revenue figure, up 12% sequentially, is a drop of only 5% when adjusted for the effects of currency. The company's fiscal fourth quarter ended October 31.
The numbers were “fueled by significant growth in China,” Mark Hurd, chairman and CEO of HP, said in a statement.
HP also released a revenue estimate for fiscal year 2010 of $118 billion to $119 billion.
In August, HP reported revenue of $27.5 billion for Q3 2009, a net decline of 2% year over year. During that period, its imaging and printing group saw a 20% decline in revenue for a total of $5.7 billion, while printer shipments decreased 23%.
Earlier this month, HP announced it is beta-testing i-catcher, a behavioral tool that it plans to launch next March. In recent months, it has also announced printing-related partnerships with Pitney Bowes and RR Donnelley.
The company will reveal its full fiscal 4Q earnings on November 23.