HP reports last quarter’s earnings
Total net revenue up 7% to $15.3 billion
- Total net earnings up 51% to $1.1 billion
- Printer/MFP division
o consumer units were down 8%
consumer net revenue up 15%
o commercial units were up 29%
commercial net revenue up 46%
o total hardware shipments were down 4%
o supplies revenue was up 20%
o net revenue up 24% to $4.9 billion
o 17.6% operating margin
- HP Inc. CEO and President Enrique Lores explained that supply-chain constraints
affected both Print and Personal Systems revenue:
o “Demand continues to be significantly stronger than our supply chain
capacity.”
o “We are managing through component shortages. COVID-related factory
lockdowns in Southeast Asia, and congested ports and transportation
disruptions”
o “Even under these conditions, we delivered solid financial results.”
o “Looking ahead to Q4, our backlog remains significantly elevated.”