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Innovation

HP beats Q3 estimates

The company posted year-over-year growth in both personal systems and printer revenue.
Written by Stephanie Condon, Senior Writer on

HP published its third quarter results on Thursday, slightly beating market expectations with year-over-year growth in both personsal systems and printing revenue.

Non-GAAP earnings came to 52 cents a share, up 21 percent year-over-year. Revenue was $14.6 billion, up 12 percent year-over-year.

Wall Street was looking for earnings of 51 cents a share on revenues of $14.27 billion.

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"Q3 was another strong quarter, with consistent and balanced performance across segments and regions," President and CEO Dion Weisler said in a statement. "We delivered differentiated innovation in our core, advanced our growth initiatives and are investing in our future while delivering profitable growth."

By segment, Personal Systems net revenue was up 12 percent year-over-year, with a 3.9 percent operating margin. Commercial net revenue increased 13 percent, and Consumer net revenue increased 10 percent. Total units were up 6 percent with Notebooks units up 6 percent and Desktops units up 7 percent.

Printing net revenue was up 11 percent year-over-year with a 16 percent operating margin. Total hardware units were up 12 percent with Commercial hardware units up 91 percent and Consumer hardware units up 2 percent. Supplies net revenue was up 8 percent.

For the fourth quarter, HP estimates non-GAAP EPS to be in the range of 52 cents to 55 cents.

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