HP, which supplies PC, laptop and printers, has revealed its financial result and main achievements during the third-quarter of fiscal 2024.
HP has reported revenue of $13.5 billion (up 2 percent). HP has generated 45 percent of its sales revenue from Americas, 33 percent from EMEA (Europe, the Middle East and Africa), and 22 percent from Asia Pacific that includes China and India.
HP’s PC business revenue was $9.4 billion (up 5 percent) with operating profit of $599 million and a 6.4 percent operating margin. Revenue growth in PC business was driven by higher commercial volume and increased price. HP faced a decline in consumer PC volume and weakness in China.
HP did not reveal the positive impact from its AI PCs.
HP has generated 71 percent of its PC sales revenue from enterprises and 29 percent from individual consumers.
Consumer PC revenue fell 1 percent.
Commercial PC revenue increased 8 percent.
Consumer PC units fell 6 percent.
Commercial PC units rose 6 percent.
HP’s printing business revenue was $4.1 billion (down 3 percent) with operating profit of $715 million and a 17.3 percent operating margin. HP’s print business did not perform well due to the slower pace of recovery in printer market and a more aggressive pricing environment.
Consumer printing revenue was up 2 percent.
Commercial printing revenue fell 5 percent. Consumer Printing units were flat. Commercial Printing units fell 4 percent.
