Thursday, 25 May 2017

HP Inc results beat in 'breakthrough' quarter for PC, printers

HP Inc reported better-than-expected results in what its chief executive termed a "breakthrough" quarter as both its PC and printer businesses grew for the first time since 2010. Shares of the company rose 3.6 percent to $19.7 after the bell on Wednesday. Revenue from personal systems business, which makes notebooks, desktops and workstations, jumped 9.6 percent to $7.66 billion in the second quarter ended April 30. The business accounts for nearly two-thirds of the company's total sales. Worldwide shipments of PCs rose for the first time in five years in the first quarter of 2017, with HP taking the top spot, according to research firm IDC. The PC market has benefited as more businesses replace or upgrade their older systems as part of their refresh cycle.

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