HP reported a second quarter net profit of $1 billion on turnover of $25.5 billion, which compares with a net profit of $1.3 billion on turnover of $27.3 billion in Q2 of the previous year. For the first six months of the year, HP’s net profit was $2.4 billion on turnover of $52.3 billion, while for the same period of the previous year, HP recorded a net profit of $2.7 billion on turnover of $55.5 billion. HP’s personal systems group saw revenue decline 5% year on year in Q2, with sales in the commercial sector dropping 7% and in the consumer space 2%. Shipments of notebooks increased 19% but desktop PC units were down 14%.
The planned separation of HP’s business into two new companies remains on track and HP announced some further leadership appointments for both companies. Cathie Lesjak will become CFO of HP Inc. while Tim Stonesifer will take on the same role for Hewlett Packard Enterprise.
