Arab Today, arab today hp revenue inches up after years of decline
Last Updated : GMT 15:23:04
Arab Today, arab today
Arab Today, arab today

HP revenue inches up after years of decline

Arab Today, arab today

Arab Today, arab today HP revenue inches up after years of decline

The Hewlett-Packard headquarters
San Francisco - AFP


Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.
Net revenue for the quarter that ended July 31 was $27.6 billion, a one percent improvement from the same period last year when the California computer maker took in $27.2 billion.
Meanwhile, HP profit in the recently ended quarter ebbed to $985 million compared to $1.39 billion in the same period a year earlier, due in part to cost savings from a massive effort by chief executive Meg Whitman to find new momentum as lifestyles shift from personal computers to smartphones and tablets.
"Overall, I'm very pleased with the progress we've made," Whitman said in the earnings release.
"When I look at the way the business is performing, the pipeline of innovation and the daily feedback that I receive from our customers and partners, my confidence in the turnaround grows stronger."
HP shares slipped a fraction of a percent to $34.86 in after-market trading that followed release of the earnings figures.
Whitman said during an earnings call with analysts that the financial quarter marked an "important milestone" in the effort to turn HP around, and that she was encouraged by progress.
Sales of home and business computers were bright spots in the quarter despite pressure on the overall personal computer market due to competition from smartphones and tablets.
- Acquisitions in the cards -
"The PC market, I mean right up through tablets, is flat to declining," Whitman said.
"We think that will continue and we think that we can continue to gain share in a flat market."
She based her confidence in HP's product line-up and relationships with partners, saying the company's PC business "has some wind beneath its wings."
And while China, home to HP rival Lenovo, was a weak spot for HP personal computer sales, the region did well when it came to printer, server and software products, according to Whitman.
HP expected political forces in Russia and fierce competition in China to present challenges for the company.
HP executives promised that at least half of the company's cash flow will go to buy back shares or pay dividends, with an emphasis on the former because they saw the stock as attractively priced.
Whitman said that HP would also put money into acquisitions.
Last month, HP announced that Whitman will replace Ralph Whitworth as chair of the US tech giant. Whitworth said he was stepping down for health reasons.
"Meg has been an outstanding leader since coming to HP, and we believe that as chairman she can most effectively drive the turnaround and continue to build value for our shareholders," said Gary Reiner, chairman of the board's nominating committee.
Whitman, who previously was chief executive at eBay, has been president and chief executive officer of HP since September 2011.
HP is undergoing a massive reorganization to cope with the move away from traditional personal computers to mobile devices.
The California company said in May that it was cutting an additional 11,000 to 16,000 jobs on top of 34,000 reductions planned under a program begun in 2012.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hp revenue inches up after years of decline Arab Today, arab today hp revenue inches up after years of decline

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday