HP reports Q3 performance for the fiscal year 2024, with total revenue of $13.519 billion, a 2.4% increase from the same period last year. Net income under GAAP stands at $640 million.
Enrique Lores, CEO of HP, expressed satisfaction with the quarterly performance as revenue continued to grow. This growth can be attributed to the introduction of AI PC products, with the company maintaining a strategic focus on long-term profitability amidst a volatile economic environment.
Within the Personal Systems group, revenue increased by 5% to $9.369 billion, with Consumer segment decreasing by 1% and Commercial segment increasing by 5%. The Printing business group saw a revenue of $4.143 billion, marking a 3% decline.
Source: HP
TLDR: HP reports positive Q3 results with revenue growth driven by AI PC product launches, maintaining strategic focus on long-term profitability despite economic uncertainties. Personal Systems group revenue up by 5%, while Printing business group revenue declined by 3%.
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