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HP posts earnings growth for fourth straight quarter

HP finishes another quarter with strong earnings, continuing a four-quarter streak of growth
By: Derek Strickland | Business, Financial & Legal News | Posted: Aug 23, 2017 10:43 pm

Technology giant HP Inc has reported its fourth straight quarter of strong earnings growth driven by its Personal Systems segment.

 

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HP's fiscal third quarter 2017 earnings mark the fourth consistent period the company has one-upped its total net revenues. The company earned $13.1 billion in net revenues in the three-month period ending July 31, 2017, up 10% year-over-year. HP's Personal Systems segment, which includes its lucrative commercial and consumer PCs as well as workstations, thin clients, and tablets, accounted for roughly 64% of fiscal Q3'17 net revenues, or $8.404 billion in net revenues and up 12% year-over-year. Commercial and Consumer segment net revenues increased by 11% and 14% respectively, and Notebook segment revenues were also up 12% with Desktop units down 3% year-over-year.

 

The tech titan's Printing segment earned $4.698 billion in net revenues in the period, up 6% year-over-year.

 

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"Q3 was another outstanding quarter of successfully executing our reinvention strategy," said Dion Weisler, President and CEO, HP Inc.

 

"We stabilized supplies revenue a quarter earlier than expected, posted double-digit revenue growth, delivered non-GAAP earnings per share at the high-end of our previously provided outlook range and generated approximately $1.7 billion in free cash flow."

 

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NEWS SOURCES:Reuters.com

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