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PCs Drive HP Q3 2017 Results

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HP beats Wall Street expectations as it reports Q3 2017 revenues of $13.1 billion, a 10% Y-o-Y increase. However profits are down, slipping from $783 million in Q3 2016 to $696m.

HP WorkstationThat said, the company remains bullish about the results, particularly since the Personal Systems business sees "incredible" 12% Y-o-Y growth, bringing in revenues of $8.4bn. Commercial revenues are up by 11%, while consumer revenues increase by 14%. In addition, the company reports total shipments are up by 7%, driven by a 12% increase in notebook shipments.

Desktop and workstation shipments are down by -3% Y-o-Y.

"About one in five machines (currently) has got an HP logo on it, and it is very quickly becoming one in four, we are creeping up there," HP CEO Dion Wesler tells shareholders. "The top four players (HP, Lenovo, Dell, and Apple)-- including us-- in aggregate grew 1% and we grew a five point premium to that. The big are getting bigger, and we are growing much faster than the big four in total."

The printer business is also on the up, with revenues growing by 6% Y-o-Y to $4.7bn, primarily due to a 10% increase in supply revenues. Total HP hardware unit sales are up by 1% due to a 1% increase in consumer hardware units, even as commercial hardware units remain flat on a Y-o-Y basis.

In regional terms, EMEA HP revenues are up by 14% Y-o-Y. Americas revenues show 8% growth, while Asia Pacific and Japan revenues increased by 15%, all in constant currency.

Go HP Reports Fiscal Q3 2017 Results