HP quarterly sales down 10% on PC market slowdown

Thursday 23 May 2013 | 09:18 CET | News
HP reported revenues of USD 27.6 billion for its fiscal second quarter to 30 April, down 10 percent from a year earlier. The lower revenues were due to the slowdown in the PC market, where HP saw its units sold fall 21 percent, including 18 percent fewer desktops and a 24 percent fall in notebooks. At its Enterprise division, networking revenue improved 1 percent, but all other segments posted lower sales. Earnings fell 31 percent to USD 0.55, but came in better than its earlier outlook of USD 0.38-0.40, helped by cost reductions. HP also improved operating cash flow 44 percent to USD 3.5

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Categories: General
Companies: HP
Countries: World
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