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.

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.