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HP FQ3 2016 financial results show dropping profits and revenue

HP FQ3 2016 financial results show dropping profits and revenue
HP FQ3 2016 financial results show dropping profits and revenue
Revenue from the manufacturer's Printing business is down 18 percent YoY while sales of notebooks are up 8 percent.

HP has made public its fiscal Q3 2016 finances to reveal that while its PC revenue has been relatively stable YoY, its printer business has become a burden for the manufacturer. Overall results turned out to be weaker than what investors had anticipated.

Accordingly, HP reported a net loss of 3.8 percent in sales compared to FQ 2015 from 12.362 billion USD to 11.892 billion USD. Profits have also fallen YoY by 8.3 percent from 854 million USD to 783 million USD. Shares of HP have adjusted accordingly by 34 to 37 cents in response to the latest figures.

While its Personal Systems branch was up by about 4 percent in sales and 8 percent for notebooks, its Printing branch was down 18 percent in revenue and 10 percent in sales this past quarter. Revenue from desktops have also declined by about 9 percent YoY.

HP recently announced its proprietary Sure View technology for select EliteBook notebooks and will soon launch a high-end hybrid smartphone aimed at business users.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2016 08 > HP FQ3 2016 financial results show dropping profits and revenue
Ronald Tiefenthäler/ Allen Ngo, 2016-08-26 (Update: 2016-08-26)
Allen Ngo
Allen Ngo - US Editor in Chief
After graduating with a B.S. in environmental hydrodynamics from the University of California, I studied reactor physics to become licensed by the U.S. NRC to operate nuclear reactors. There's a striking level of appreciation you gain for everyday consumer electronics after working with modern nuclear reactivity systems astonishingly powered by computers from the 80s. When I'm not managing day-to-day activities and US review articles on Notebookcheck, you can catch me following the eSports scene and the latest gaming news.