HP Result 24/08/2015

HP has released its third quarter results, recording a 13.2% year on year drop in net profit to $854 million from $985 million in Q3 of the previous year, while turnover declined 8.3% to $25.3 billion from $27.6 billion. For the first nine months of the year, HP’s net profit was $3.2 billion on turnover of $77.6 billion, which compares with a net profit for the corresponding period of last year of $3.7 billion on turnover of $83 billion. Turnover in HP’s personal systems group in Q3 was down 13% YoY at $7.5 billion, while notebook sales fell 3% and desktops 20%. During Q3 HP began the process of separating its enterprise technology infrastructure, software and services businesses, from its personal systems and printing groups.