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HP reports YoY growth for Q2

HP reports YoY growth for Q2

May 28, 2021

HP Inc. and its subsidiaries announced fiscal 2021 second quarter net revenue of $15.9 billion (€13.04 billion), up 27.3% year-on-year (YoY), Instant Ink reaches 9.7 million users.

Personal Systems net revenue was $10.6 billion (€8.7 billion), up 27% year-on-year with a 6.7% operating margin. Consumer net revenue increased 72% and commercial net revenue increased 10%. Total units were up 44% with notebooks units up 63% and Desktops units down 5%.

Printing net revenue was $5.3 billion (€4.35 billion), up 28% year-on-year with a 17.9% operating margin, $951 million (€780 million). Total hardware units were up 42% with consumer units up 45% and commercial units up 22%. Consumer net revenue increased 77% and commercial net revenue increased 34%. Supplies net revenue was up 17%.

“We delivered another strong quarter, with double-digit top and bottom line growth. HP technology is increasingly at the heart of hybrid work and we are benefitting from exceptional demand for our products and services,” said Enrique Lores, HP Inc. President and CEO. “Our performance and our positive outlook for the full year reflect the relevance of our innovation, the resilience of our business model, and the operational excellence of our teams.”

HP explained that for the printing segment it saw a double-digit growth in Instant Ink subscriptions, reaching 9.7 million subscribers and attributes some of the growth also to the global launch of HP+ to 35 countries.

Categories : City News

Tags : Business Financials HP Inc Instant Ink OEM

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