HP posts earnings growth for fourth straight quarter

HP finishes another quarter with strong earnings, continuing a four-quarter streak of growth.

@DeekeTweak
Published Wed, Aug 23 2017 5:43 PM CDT   |   Updated Tue, Nov 3 2020 11:54 AM CST

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 SOURCE:reuters.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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