Thursday, May 25, 2017

HP Printing Business shows a revenue uptick after 23 negative quarters

The modest 2% yty growth in quarterly revenues looks pretty good after 23 consecutive negative numbers
Source: HPQ Investor Relations
HP Inc.'s second quarter 2017 results were announced yesterday, and surprise surprise, printer revenues showed an increase over the same quarter a year ago. The overall 2% growth, to $4.7 Billion, is made up of three components - supplies, commercial hardware, and consumer hardware - which all showed similar single digit gains. And while those components showed sporadic positive compares since 2011, the overall quarterly growth number showed 23 downticks in a row. Most of those were of the small single digit category, but no surprise, they add up! The overall quarterly revenue number leading into the negative streak (Q211) was $6.7 Billion, meaning a $2 Billion quarterly haircut. Congrats to HP for the winning quarter, and I guess those of us who care about the business can root for 22 more in a row!