HP on the rise in Q3
August 24, 2018
The OEM has published its latest consolidated financial results for Q3 of 2018, ending June the 30th, with positive news across the board, buoyed by its purchase of Samsung last year.
HP Inc.’s net revenue rose to $14.58 billion (€12.59 billion), up from $13.06 billion (€11.28 billion) in the same period last year, whilst its earnings from operations also increased, from $955 million (€824.9 million) in 2017 to $1.08 billion (€932.8 billion) this year.
The company’s Printing segment, comprising commercial and consumer printing, and printing supplies, accounted for 35 percent of the firm’s net revenue, with the segment revenue increasing 11 percent, from $4.67 billion (€4.03 billion) in 2017 to $5.18 billion (€4.47 billion) in 2018.
Revenue from printing supplies also increased, by 8 percent, from $3.14 billion (€2.71 billion) to $3.4 billion (€2.93 billion), whilst there was a more modest rise in revenue from consumer printing hardware, which climbed 4 percent – from $592 million (€511.3 million) to $613 million (€529.5 million).
Most notably, revenue from commercial printing hardware – included Samsung-branded hardware – increased by 24 percent, from $940 million (€812 million) to $1.17 billion (€1.01 billion), whilst unit sales were up 91 percent, in a thundering vindication of the OEM’s acquisition of Samsung’s printing arm last year.
Commercial hardware made up 22 percent of HP’s Printing segment revenue in Q3, compared to 12 percent for consumer hardware; printing supplies still led the way, on 66 percent. Overall, the Printing segment’s operating profit reached $832 million (€718.7 million).
In geographic terms, HP made 45 percent of its net revenue in the Americas, with the EMEA region next on 34 percent, and Asia Pacific on 21 percent.
Commenting on the results, the OEM’s CEO Dion Weisler called Q3 “another strong quarter, with consistent and balanced performance across segments and regions.”
“We delivered differentiated innovation in our core, advanced our growth initiatives and are investing in our future while delivering profitable growth,” he added.
Categories : World Focus
Tags : Business Financials HP OEM Q3
