"HP reported growth in personal systems, with consumer devices revenue up 8% and commercial systems up 5%. But it was less successful with printing, which fell 4% to $4 billion for the quarter - despite efforts to spur on that division earlier this year by adding AI software features. While HP had good news on PCs, the company is experiencing challenges in other domains, Lores revealed."
"Lores said HP was finding success in shifting sales to "higher value segments", including , those devices with the technical specification to run AI. "We are very pleased with the accelerating demand for the AI PC category, which grew revenue double digit sequentially," he said. "It has surpassed our expectations with shipments continuing to ramp, now reaching over 25% of our mix, a quarter ahead of our plan.""
Windows 11 upgrade cycle and AI PC adoption helped HP beat sales expectations. Q3 revenue rose 3% to $13.93 billion, slightly above analysts' $13.70 billion estimate. Personal systems revenue rose 6% to $9.93 billion, with consumer devices up 8% and commercial systems up 5%. Printing revenue fell 4% to $4 billion despite adding AI software features earlier in the year. Services showed year-over-year revenue growth driven mainly by digital and managed services. Demand softened for hybrid systems as some companies delayed IT projects. AI PC revenue and AI software tools grew strongly, with AI PC shipments exceeding 25% of the mix.
Read at IT Pro
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