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HP Inc. printing revenue down

HP Inc. printing revenue down

November 25, 2020

In its announcement, HP said that printing net revenue was down 3% year-over-year and supplies net revenue was down 1%.

HP announced fiscal 2020 net revenue of $56.6 billion (€47.62 billion), down 3.6% from the prior-year period. For its fourth quarter net revenue was $15.3 billion (12.87 billion), down 1.0% from the prior-year period and up 7% sequentially. 

“We closed out a strong quarter with a beat on the top and bottom line. The strength of our innovation with the rigor of our execution drove sequential growth in revenue, operating profit, non-GAAP EPS and cash flow,” said Enrique Lores, President and CEO, HP Inc. “We had record unit shipments in the quarter, reflecting the important role HP technology is playing in the lives of our customers. Our results give us great confidence in our ability to drive long-term growth and shareholder value in 2021 and beyond.”

Personal Systems net revenue was $10.4 billion (€8.75 billion), flat year-over-year with a 5.1% operating margin. Consumer net revenue increased 24% and commercial net revenue decreased 12%. Total units were up 7% with Notebooks units up 25% and Desktops units down 31%.

Printing net revenue was $4.8 billion (€4.03 billion), down 3% year-over-year with a 14.8% operating margin. Total hardware units were up 14% with consumer hardware units up 18% and commercial hardware units down 10%. Supplies net revenue was down 1%.

Categories : City News

Tags : Business Financials HP Inc OEM

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