HP Reveals Printer Profits
HP has announced it financial results for its second quarter ended April 30th with the company generating net revenue of $27.4 billion (£17.4 billion).
This week, the manufacturer launched the HP Officejet 6000 Printer and HP Officejet 7000 Wide Format Printer to extend the series.
However, revenue fell 23 per cent at its imaging and printing group to $5.9 billion, while printer unit shipments fell 27 per cent.
Sales of commercial printer hardware units slipped 36 per cent and consumer printer hardware units fell 23 per cent.
During the same time frame, operating profit was $1.1 billion, or 18.2 per cent of revenue - up from 16 per cent in the prior-year period.
Mark Hurd, HP chairman and chief executive officer, said: "Disciplined focus on operational efficiencies and execution drove record cash flow.
"Our services business continued to deliver strong profitability with an increased deal pipeline and the electronic data systems integration tracking ahead of schedule."
HP operates in more than 170 countries around the world.