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Supplies crash for HP and Intel CPU shortages aren't helping either

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Cedric Sams
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Forget Intel's chip drought: an unforeseen collapse in demand for print supplies in EMEA is the bigger issue keeping HP Inc's management on their toes.

The US biz last night outlined financials for Q1 ended 31 January: group revenue was up just 1 per cent to $14.71bn, a marked downturn on the double-digit rises HP reported in each of the prior year quarters.

Notebooks sales climbed 6 per cent to $5.919bn; desktops were down 3 per cent to $2.857bn; workstations edged up 3 per cent to $562m; and the Others category was down 8 per cent to $319m.

CEO Dion Weisler reminded analysts on an earnings call of his warning in the previous quarter about the impact of the industry-wide Intel CPU shortages.

"As expected, the first half [year] headwinds we previously shared with you are playing out.

Earnings before tax in Personal Systems bounced to $410m from $335m a year ago.

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Cedric Sams
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