Commercial PC sales gained 25% while consumer revenue declined 3%. Revenue from Personal Systems, mostly computers, climbed 13% to $11.8 billion in the recent period. HP shares jumped 13% in extended trading after closing at $32.19 in New York. HP last month said long-term revenue growth will be in the “low single digit” percentage. The researcher estimated HP’s unit sales dropped 5.8% in the period. reported last month, in large part limited by the struggling supply chain. Global PC shipments increased just 1% in the third quarter compared with a year earlier, analyst Gartner Inc.
Lores has said that demand for PCs will continue at the elevated levels experienced during the pandemic despite the return to offices and schools. While the company is getting a boost from higher demand, HP has struggled to fill all its orders because of shortages of some types of chips. “Additionally, we have seen cost increases and we have responded to those with price increases, so we are managing our profitability well in an inflationary environment.” “What we have seen is very strong demand, especially in commercial and high-premium consumer categories, which have higher prices and higher value,” Chief Executive Officer Enrique Lores said in an interview. Profit, excluding some items, was 94 cents a share, compared with an average estimate of 88 cents. Analysts, on average, projected $15.4 billion, according to data compiled by Bloomberg. 31, the Palo Alto, California-based company said Tuesday in a statement. Revenue gained 9% to $16.7 billion in the fourth quarter, which ended Oct. Share links to marketplace products to make extra money in a fast and easy way Start earning now.
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