HP Inc. has released solid results for its performance during second quarter in 2017 with an increase of 7% in net revenue. It is also reportedly the first time both its personal systems and print business achieved growth in the same quarter.
According to theimagingchannel.com, HP has reported the net revenue of $12.4 billion, seeing a 7% increase, while its net earnings per share from continuing operation decreased slightly from $0.38 to $0.33
In this quarter, the printing business reached a 17.4% operating margin, increasing 2% year over year. Total hardware units were up 4% with commercial hardware units up 6% and consumer hardware units up 3%. Supplies net revenue was up 2%.
“This was a breakthrough quarter for HP, and marks the first time both Personal Systems and Print have grown in the same quarter since 2010,” said Dion Weisler, President and CEO, HP Inc. “We’re delivering solid performance across our portfolio, in all regions, and on key financial metrics. Our team is taking profitable share, out-executing our competitors and delivering some of the best innovation in HP’s history. It’s clear our reinvention is paying off.”
For the fiscal 2017 third quarter, HP estimates that net EPS from continuing operations would fluctuate between $0.36 and $0.40.