HP Posts Record Revenues

Posted on May 28, 2021 by Paul Thurrott in Chromebook, Hardware, Mobile, Windows 10 with 6 Comments

HP reported net earnings of $1.2 billion on revenues of $15.9 billion in the most recent quarter, the latter of which is an all-time record.

“We delivered another strong quarter, with double-digit top and bottom-line growth,” HP president and CEO Enrique Lores said. “HP technology is increasingly at the heart of hybrid work and we are benefitting from exceptional demand for our products and services. “Our performance and our positive outlook for the full year reflect the relevance of our innovation, the resilience of our business model, and the operational excellence of our teams.”

HP’s PC business was on fire in the quarter, with $10.6 billion in revenues, up 27 percent year-over-year. Net revenues from HP’s consumer PCs rose 72 percent, while revenue from commercial PCs grew 10 percent. Total units sold rose 44 percent in the quarter, with notebooks experiencing 63 percent growth and desktops down 5 percent YOY.

Revenues from HP’s printing business hit $5.3 billion, a gain of 28 percent YOY. Hardware unit sales rose 42 percent in the quarter.

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Comments (6)

6 responses to “HP Posts Record Revenues”

  1. angusmatheson

    i hope all these companies are hoarding this money. I fear that there is a great crash coming. A computer bought now is going to last many years to do the normal computing tasks that people need. I suspect we didn’t create much need, in fact a lot of the need will go away when many people stop working from home. I don’t see project Evo or Sun Valley really driving much excitement to purchase new computers. I think there will be a multiyear drought after this boom year.

    • Greg Green

      Yes, as people no longer need their desktops or laptops for home use, they may try to sell them off, lowering the prices on everything.

    • ringofvoid

      It isn't going to help that Google extended the support lifecycle for Chromebooks either. For example, the HP Chromebook x360 14c I bought last summer is supported with updates until 2028.

  2. Greg Green

    I love that original HP split into HP PC and HP Enterprise. HP PC was expected to be the runt because PCs were dead, but now HP PC stocks and market value are twice that of enterprise. Long live and love PCs.

  3. JH_Radio

    Then you got people like me or others I know who will keep a PC for many many years. This Core I7, 5th gen with 64GB of DDR4 Ram will work great for a lot of years yet. Intel and even AMD have new stuff, but for most there is no reason to upgrade their hardware. Plop an M.2 PcIE 2 SSD on this thing and upgrade it to 10 and I'm sure it'll last for quite some while yet. I think I will need to get a new graphics card though, as the GeForce 210 wont' run Windows 10 I don't think. But for my needs as a blind person who literally only turns on the screen if the PC crashes and I can't get it to talk, I don't need any kinda high end graphics card. This is A Asus SABERTOOTH X99 board.

  4. tghallin

    Since % unit growth is larger than % revenue growth, does that imply that the average price for HP PCs and printers was lower than last year?

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