HP FQ3 2016 financial results show dropping profits and revenue
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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.