What They Say
HP Inc and Dell published their results.
Revenues for HP’s fiscal quarter to the end of April saw revenues up 3.9% to $16.5 billion, although operating margin dropped from 8.6% to 7.8% and earnings dropped 19% from $1.2 billion to 1.0 billion. Personal systems were up 9.3% year on year, with commercial revenue up 18%, but consumer revenue was down 6%. Total units were down 17% with Notebooks units down 23% and Desktops units up 11%.
Dell’s revenues in its fiscal first quarter to the end of April were up 16% to $26.1 billion and with income up 57% to $1.6 billion. Client Solutions had record revenues of $15.6 billion, up 17% year on year. Commercial PCs saw revenue of $12 billion, a 22% increase year-over-year. Consumer revenue was $3.6 billion, a 3% increase year-over-year. Operating income was $1.1 billion, or approximately 7.2% of Client Solutions Group revenue.
What We Think
So, the return to the office has seen a big boost in commercial PC sales as companies caught up, while consumers have had other things to worry about, although Dell seems to have taken consumer business from HP. (BR)
HP’s Personal Systems Group presentation of Q2
