HP’s printers and PCs do badly

HP logoThe bits of the maker of expensive printer ink HP which house its printer and PC business has predicted that it is going to do worse than the cocaine nose jobs of Wall Street predicted.

For those who came in late, HP split into two companies.  HP, which has the printer and PC business and HPE which looks after all the corporate hardware and services deals.

It would appear Hewlett Packard Enterprise (HPE), which is headed by HP’s old CEO Meg Whitman and holds the corporate hardware and services businesses did a lot better.

The bloke who took the HP poison chalice Dion Weisler said that the PC market will remain challenged for more quarters to come.

PC sales have been falling sharply worldwide and the recent launch of Windows 10 has so far failed to reboot the industry.

Revenue in HP’s personal computer and printer businesses fell about 14 percent in the fourth quarter ended October 31, pushing HP’s overall revenue down for the fifth straight quarter.

The results are the last for the old HP before HP and HPE start to report separately.

Old HP revenue from enterprise services division fell 9 percent, while revenue from its enterprise group rose two percent.  Overall, revenue at the old HP fell 9.5 percent to $25.71 billion.

Net income fell to $1.32 billion from $1.33 billion a year earlier. But on a per share basis, profit rose to 73 cents per share from 70 cents, because there are fewer shares still out there.