HP seeing lower profits and revenue for Q3 2015
HP continues its spiral into lower and lower profits despite recent restructurings. Its Q3 2015 results speak for themselves: Sales have fallen by 8.11% from $27.585 billion USD in July 2014 to $25.349 billion USD this quarter. Net income has fallen by 13.3% from $985 million to $854 million.
Key areas of HP are seeing significant drops in revenue including Personal Systems (-13%), Printers (-12%), and Enterprise Services (-6%). The PC business is seeing a sharper fall at about 20% with notebooks at about 8%. In terms of shipments, HP has shipped 20% fewer PCs and 3% fewer notebooks during the quarter.
On November 1, 2015, HP will split into two separate companies: HP Enterprise Inc. and HP Inc.. The latter will continue under the guidance of CEO Dion Weisler with chairman Meg Whitman to take control of both the PC and Printer groups. Meanwhile, HP Enterprise Inc. will see Pat Russo as chairman who will take after business network technologies, services, and software groups.
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