HP Inc said its revenue rose 13.1 percent to $14 billion, helped by strong demand for its notebooks and desktops in Q2 fiscal 2017-18, Reuters reported.
HP Inc’s personal systems business, which includes notebooks and desktops and accounts for more than 60 percent of total revenue, rose 14.5 percent to $8.76 billion in the second quarter.
The Palo Alto, California-based company had the top position in worldwide PC shipments in the first calendar quarter of 2018 with a 22.6 percent market share, according to research firm International Data Corp’s (IDC) data.
HP Inc, which completed the acquisition of Samsung Electronics’s printer business last year, said revenue from its printing business rose 10.9 percent to $5.2 billion.
The printing business operating profit growth was 1.6 percent and operating margin fell 140 basis points to 16 percent, a consequence of the costs of incorporating S-print from Samsung. HP reported double-digit growth for two relatively small businesses that are seeds for faster growth, 3D printing and Device as a Service (DaaS).
“In both PCs and printing, HP is leveraging its scale and its partner ecosystem to benefit from market consolidation that follows from the maturing of these two markets,” TBR analyst Dan Callahan said.
In PCs, HP’s gains are similar to those reported by Lenovo; TBR expects Dell Technologies to report similar results. The PC gains were in both unit sales and average unit revenue (AUR) in both consumer and commercial PCs, and in both desktop and notebook computers. TBR analyst Dan Callahan said the growth in AUR was caused both by price increases, reflecting increased component costs, and a change in the mix of PCs sold favoring higher-priced models.
