Annual Profit Makes A Comeback At HP - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance

Annual Profit Makes A Comeback At HP

Hewlett-Packard reported its first full-year profit since acquiring Compaq a year and a half ago. It also more than doubled its fourth-quarter profit compared with a year ago. Still, the company is feeling the pinch from lower margins. "Profit was impacted by a greater mix of low-margin products," CFO Bob Wayman said during the company's earnings call.

The pricing environment has become intense as business and personal systems become more of a commodity, chairman and CEO Carly Fiorina said in the same call. "The market is increasingly one where the leader wins and everyone else loses."

HP posted net income of $2.5 billion on revenue of $73.1 billion for its fiscal year, ended Oct. 31. A year ago, it had a $928 million loss on $72.3 billion in revenue. Its personal-systems group led the return to profitability, with a $19 million profit for the year, up from a loss of $372 million a year ago. Imaging and printing reported a profit of $3.6 billion on revenue of $22.6 billion, up from $20.4 billion. Services profits were flat at $1.4 billion on revenue of $12.3 billion.

All segments of HP's business, with the exception of corporate investments, were profitable during the company's fourth quarter, when it reported net income of $862 million on $19.8 billion in revenue, up from a net income of $390 million on revenue of $18.0 billion in its fourth quarter last year.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
News
COVID-19: Using Data to Map Infections, Hospital Beds, and More
Jessica Davis, Senior Editor, Enterprise Apps,  3/25/2020
Commentary
Enterprise Guide to Robotic Process Automation
Cathleen Gagne, Managing Editor, InformationWeek,  3/23/2020
Slideshows
How Startup Innovation Can Help Enterprises Face COVID-19
Joao-Pierre S. Ruth, Senior Writer,  3/24/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT Careers: Tech Drives Constant Change
Advances in information technology and management concepts mean that IT professionals must update their skill sets, even their career goals on an almost yearly basis. In this IT Trend Report, experts share advice on how IT pros can keep up with this every-changing job market. Read it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll