HP’s revenues dip 10% to $27.6 billion, profit decline 32% to $1.1 billion in Q2 FY 2013

Infotech Lead India: HP’s revenue declined 10 percent to $27.6 billion in Q2 FY 2013 from $30.7 billion in Q2 FY 2012.

HP’s profit decreased 32 percent to $1.1 billion from $1.6 billion.

HP’s all main divisions – excluding networking division — showed negative growth in the second quarter. The company’s networking revenue increased 1 percent.

“We beat the upper end of our non-GAAP diluted EPS outlook for the quarter by $0.05 per share, driven by better than expected performance in Enterprise Services and Printing, coupled with the accelerated capture of restructuring savings and improvement in our operations,” said Meg Whitman, HP president and chief executive officer.

Performance of HP divisions

HP’s Personal Systems revenue decreased 20 percent.

Commercial revenue decreased 14 percent.

Consumer revenue declined 29 percent.

Total units were down 21 percent with Desktops units down 18 percent and Notebooks units down 24 percent.

Printing revenue declined 1 percent.

Total hardware units were down 11 percent.

Commercial hardware units were down 5 percent.

Consumer hardware units were down 13 percent.

Enterprise Group revenue declined 10 percent.

Networking revenue increased 1 percent.

Industry Standard Servers revenue was down 12 percent.

Business Critical Systems revenue was down 37 percent.

Storage revenue was down 13 percent.

Technology Services revenue was down 3 percent.

Enterprise Services revenue declined 8 percent.

Application and Business Services revenue decreased 10 percent.

IT Outsourcing revenue declined 6 percent.

Software revenue decreased 3 percent.

Support revenue was up 12 percent while license revenue was down 23 percent and services revenue was down 5 percent.

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