HP reported financial results for its fourth fiscal quarter, showing net revenue increased 7% year-over-year to $22.9 billion.
During the quarter, on a year-over-year basis, revenue in the Americas grew 5% to $10.0 billion, Europe, the Middle East, and Africa grew 8% to $9.1 billion, and Asia Pacific grew 12% to $3.8 billion. On a consolidated basis, when adjusted for the effects of currency, fourth quarter revenue grew 6% year-over-year.
The Imaging and Printing Group (IPG) posted quarterly revenue of $6.8 billion, up 4% year-over-year. On a year-over-year basis, consumer hardware revenue decreased 4%, with printer unit shipments up 6%. Commercial hardware revenue grew 4% over the prior-year period, with printer unit shipments up 16%. Color laser unit shipments increased 41% year-over-year, and enterprise multifunction printer shipments increased 83%, reflecting continued momentum in key growth initiatives. Supplies revenue grew 7%. Operating profit was $896 million, or 13.2% of revenue, down from a profit of $1.1 billion, or 16.6% of revenue, in the prior-year period.
Original Post