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HP Consumer PC Sales Slump 11%

HP’s consumer PC division has reported an 11% decrease in Q3 unit sales, impairing a 3% revenue lift for its commercial PC business.

For Q3 FY19, desktop unit sales lift 11%, with notebooks up 2%.

Printing revenue declined 5% year-on-year (hardware units down 9%), and supply sales slipping 7%.

The news follows the exit of HP Chief Executive, Dion Weisler, due to family matters, replaced by Enrique Lores.

[HP]

Mr Lores is currently HP’s president of imaging, solutions and printing, with Wiesler remaining at the helm until January 2020.

“Our end objective is to create a more digitally enabled, customer-centric organisation,” claims Lores in an earnings call.

“It’s critical that we do some because the needs of our customers are rapidly changing, and we must become a more agile organisation that is framers to fully capitalise on the opportunities ahead.”

Broader, HP Q3 results remained relatively flat year-on-year, with Q3 net income of US$1.2 billion (78 cents/share) on revenue of US$14.6 billion.

Concerning future outlook, the company is forecasting Q4 non-GAAP earnings of 55 cents/share – 59 cents/share.

[HP]

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