HP posts earnings for last quarter
- Total sales down 18.8% to $13.8 billion
- Printer/MFP division sales down 4.5% to $4.6 billion
- Supplies revenue down 6.9% to $2.86 billion
- Commercial hardware revenue up 1.6% to $1.056 billion
- Printer/MFP division sales down 4.5% to $4.6 billion
- Office hardware revenue up 13%
- Pages per device are 80% of pre-pandemic levels
- Consumer hardware revenue down 3.5% to $699 million
- Total printer/MFP hardware units up 2%
- Commercial hardware units down 8%
- Consumer hardware units up3%
- Consumer PC sales down 36%
- Commercial PC sales down 18%
- Operating profit margins contracted 240 basis points in PC business
- Margins up 80% in printer business
- Operating margin down from 8% to 5.5%
- Net earnings down 55.2% to $487 million