HP revenue grows 10.3% driven by devices business

HP Inc’s revenue increased 10.3 percent $15.37 billion in Q4 2018, driven by growth in its personal systems business that sells notebooks and desktops and the acquisition of Samsung’s printer business.
HP India promotionThe personal systems business, which accounts for more than 60 percent of HP Inc’s total revenue, rose 11 percent to $10.06 billion.

The company had the second position in worldwide PC shipments in the third quarter with a 22.8 percent market share, down from 23.9 percent in the preceding quarter, market research firm IDC said.

HP Inc said revenue from its printing business rose 9.1 percent to $5.30 billion.

The company completed the acquisition of Samsung Electronics’s printer business for $1.05 billion in November 2017 as a part of its efforts to strengthen the sluggish printer and copier business, Reuters reported.

HP Inc said it has not considered any impact from unannounced tariffs or any significant demand changes that may result from an increase in geopolitical uncertainties in China. The Palo Alto, California-based company said it would consider price increases to respond to tariffs.

“We are working through a variety of mitigation items on the tariffs, pricing included to be one of the ways we mitigate,” said Chief Financial Officer Steve Fieler during the call with analysts.

Net earnings rose to $1.45 billion in the fourth quarter ended Oct. 31 from $660 million a year earlier.

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