Commercial PC sales rose 6% from a year ago to $6.2 billion, with shipments increasing by 12%. However, consumer PC sales fell 3% to $2.2 billion, and the printing business saw a 12% drop in revenue to $4.4 billion. Lores attributes the decline in the printing business to a lack of investment on the commercial side but expects the segment to stabilize in the second half of the fiscal year.
Key takeaways:
- HP Inc. reported a decent earnings and revenue beat, with earnings before certain costs such as stock compensation of 82 cents per share, slightly ahead of Wall Street’s forecast of 81 cents.
- HP's commercial PC sales rose 6% from a year ago to $6.2 billion, with shipments rising by 12%, while sales of consumer PCs fell 3% to $2.2 billion.
- HP CEO Enrique Lores predicts that AI PCs will represent between 40% and 50% of total PC shipments three years after launch, and that the adoption of AI PCs will start slowly at first.
- HP's printing business saw a 12% drop in revenue from a year earlier to $4.4 billion, with shipments plunging 17%, which Lores attributes to a lack of investment on the commercial side.