Hewlett-Packard saw a 2.5 percent drop in its Q4 revenue, as it saw lackluster sales for enterprise computing hardware to businesses. The company's revenue fell from $29.13 billion earlier this year to $28.41 billion in Q4, with net income dropping from $1.41 billion down to $1.33 billion year-over-year.
Despite the drop, HP continues to show pride in its businesses: "I'm excited to say that HP's turnaround continues on track," said CEO Meg Whitman. The company says "we stabilized our revenue tractor, strengthened our operations, showed strong financial discipline, and once again made innovation the cornerstone of our company."
The US economy is recovering, but the PC market has struggled - and while HP does have tablets it offers to consumers and business users - the company has struggled to compete against the Apple iPad and Google Android-powered devices. As such, HP relies heavily on its value-added resellers (VARs) to drive sales of PCs, servers, software, and other products to their business partners.