The Recycler
  • G&G Masthead Banner Sept 2023
  • Ambiente 2024 Masthead
  • Katun web banner December 2022 NEW
  • Biuromax Web banner June 2022

HP reports decreased net revenues

March 1, 2023

The company has reported the first quarter results for the fiscal year 2023, with revenues down 18.8% year-over-year.

Net revenues for the reporting period were $13.8 billion (€12.9 billion), down 18.8% from the prior-year period.

Personal Systems (PS) net revenue was $9.2 billion (€8.6 billion), down 24% year-over-year with a 5.4% operating margin. Consumer PS net revenue decreased 36% and Commercial PS net revenue decreased 18%. Total units were down 28% with Consumer PS units down 33% and Commercial PS units down 24%.

Printing net revenue was $4.6 billion (€4.3 billion), down 5% year-over-year with a 18.9% operating margin. Consumer Printing net revenue was down 3% and Commercial Printing net revenue was up 2%. Supplies net revenue was down 7%. Total hardware units were up 2% overall, with Consumer Printing units up 3% and Commercial Printing units down 8%.

“We delivered on our non-GAAP EPS target despite industry-wide headwinds, reflecting disciplined execution across our business,” said Enrique Lores, HP President and CEO. “The Future Ready plan we announced last quarter is having an immediate impact, as we continue to reduce our costs while maintaining investments in long-term growth.”

Effective first quarter of fiscal 2023, HP realigned the Personal Systems business units reporting structure into Commercial PS and Consumer PS to align with its customer market segmentation. HP has reflected this change to its prior reporting periods on an as-if basis. The reporting change had no impact to previously reported segment net revenue and segment earnings from operation, consolidated net revenue, net earnings or net EPS.

Categories : City News

Tags : Business Financials HP Inc OEM revenue

  • Ninestar Web advert Feb 2023
  • Apex August 2023 Web ad
  • IR Italiana Web ad January 2021
  • Mito Web advert July 2023
  • GPI September 2023 Web Ad
  • GM Technology June 2023 Banner
  • Biuromax August Web Ad
  • Aster Web ad Aug 2023
  • Ink Tank Web ad Aug 2023
  • Static Control June 2022 Big & Bold Ad
  • Denner Group Web banner September 2023
  • HYB October 2022 Web banner
  • CET Web Ad Jan 2023
  • Zhono Web Banner May 2023
  • PCL Web ad Aug 2023
  • ITP Web ad January 2021
  • Zhono Web Banner May 2023
  • PCL Web ad Aug 2023
  • Denner Group Web banner September 2023
  • ITP Web ad January 2021
  • CET Web Ad Jan 2023
  • HYB October 2022 Web banner
  • Denner Group Web banner September 2023
  • CET Web Ad Jan 2023
  • Zhono Web Banner May 2023
  • ITP Web ad January 2021
  • HYB October 2022 Web banner
  • PCL Web ad Aug 2023

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark