PC Sales Strengthen HP Q1 Results
The growth of PC sales in Q1 has helped HP gain 14 per cent in revenue to US$14.5bn from US$13.9bn.
Its personal systems grew to US$9.4bn a 14.9 per cent jump compared to the prior year. Its net earnings jumped from US$660m to US$1.9bn.
Reuters says HP shares rose 8 per cent to US$23.11 after the results were released.
Its first quarter net cash provided by operating activities of US$996m. Its GAAP diluted net earnings per share came in at of US$1.16, above the previously provided outlook of US$0.38 to US$0.42 per share.
Dion Weisler, President and CEO, HP says, “We’re coming out of the gate strong in Q1, with double digit revenue and EPS growth year over year. Our impressive results spanned all segments and all regions, reflecting our innovative product portfolio and global execution.”
Read this for an in-depth run down of its results.