HP has released its financial performance report for the third quarter of fiscal year 2023 ending in July. The company reported a total revenue of $13.196 billion, a decrease of 9.9% compared to the same quarter last year. The net profit, according to GAAP accounting, was $766 million.
Enrique Lores, President and CEO of HP, stated that despite the increase in revenue compared to the previous quarter, the company is still facing challenging external factors. However, HP remains cautious and continues to focus on increasing market share and driving long-term growth.
The Personal Systems business group experienced an 11% decrease in revenue, with the Consumer market down by 12% and the Commercial market down by 12%. However, the overall number of units shipped increased by 3%. The Printing business group saw a 7% decrease in revenue, with the Consumer segment down by 28% and the Commercial segment down by 6%.