HP’s PC Business Grew 3 Percent in Quarter

HP announced that it earned a net income of $600 million on revenues of $12.8 billion in the quarter ending April 30, roughly flat with the year-ago quarter. But its PC business saw revenue grow by 3 percent, with unit shipments up 7 percent year-over-year (YOY).

“We delivered a solid quarter and [fiscal] first half, and unveiled an innovative portfolio of solutions designed for the AI and hybrid era,” HP president and CEO Enrique Lores said. “We have a clear strategy and are well positioned to drive profitable growth across our business.”

HP’s Personal Systems is responsible for its PCs, and it delivered $8.4 billion in revenues, up 3 percent YOY. Total units sold rose 7 percent, with consumer PCs down 1 percent and commercial PCs up 12 percent. From a revenue perspective, consumer PCs fell 3 percent and commercial PCs were up 6 percent.

HP’s Printing business added $4.4 billion in revenues, down 8 percent YOY. Total units sold fell 17 percent, while net revenues from supplies fell 4 percent.

HP is the world’s second-biggest maker of PCs after Lenovo. Last week, it announced that it was rebranding its consumer and commercial PC portfolios around the Omni and Elite prefixes, respectively, starting with the two Copilot+ PCs—the HP OmniBook X AI PC and the HP EliteBook Ultra G1q AI PC—it announced during the Copilot+ PC launch event. On the consumer side, it will sell OmniBook laptops, OmniStudio all-in-ones (AIOs), and OmniDesk desktop PCs. And on the commercial side, it will offer EliteBook laptops, EliteStudio AIOs, and EliteDesk desktop PCs.

“As AI PCs rapidly reshape the personal computing landscape, we recognized an opportunity to take increasingly complex technology and communicate it in a refreshingly simple way,” HP announced at the time. “Customers should expect our brand to evolve as the technology evolves, so that we are ready to meet the possibilities of the AI PC era.”