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HP doing better than expected

by on30 May 2018

Notebook and desktop demand picked up

The maker of expensive printer ink HP reported better than expected quarterly revenue and raised its full year profit forecast thanks to strong demand for its notebooks and desktops.

HP's personal systems business, which includes notebooks and desktops and accounts for more than 60 percent of total revenue, rose 14.5 percent to $8.76 billion in the second quarter. The cocaine nose jobs of Wall Street had predicted $8.28 billion.

HP had the top position in worldwide PC shipments in the first calendar quarter of 2018 with a 22.6 percent market share, according to IDC beancounters..

IDC analysts have said demand for premium notebooks in both the consumer and commercial segments have helped major PC vendors to retain better margins and garner buyer interest.

HP which completed the acquisition of Samsung's printer business last year, said revenue from its printing business rose 10.9 percent to $5.24 billion, above analysts’ estimate of $5.13 billion.

Net earnings jumped 89.3 percent to $1.06 billion in the quarter ended April 30, mostly helped by a one-time tax benefit of $975 million.

Revenue rose 13.1 percent to $14 billion, above analysts’ average estimate of $13.57 billion.

Last modified on 30 May 2018
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