What They Say
HP Inc. released its fiscal Q3 results with revenue up 7% to $15.3 billion and net earnings of $1.1 billion (up 51%) with an operating margin of 9.8% (up from 6.1%). Personal Systems revenue was flat year on year at $10.4 billion (but down 3% in constant currency) and with an 8.4% margin. Consumer net revenue increased 3% and Commercial net revenue decreased 1%. Total units were flat with notebooks units up 2% and desktops units down 7%.
What We Think
That’s a good boost in margins. The flat volumes will not have been helped by chip and other component shortages, but getting a more profitable product mix must have been good news for the management. (BR)
