HP Inc has released its Q1 numbers and they paint a rosy picture, showing steady growth.
HP Inc’s net revenue for the quarter is up 14% at $14.5 billion compared to $12.7 billion in the previous quarter. The operating margin remained flat at 6.7%, but this is still pretty decent. Dion Weisler, President and CEO, said “Our impressive results spanned all segments and all regions, reflecting our innovative product portfolio and global execution.” This includes the graphics business, which is great news for the sector.
Revenue from printing operations was 14% higher year on year and yielded a 15.8% operating margin. HP Inc’s printing businesses sold 14% more units with commercial, ie professional, hardware units up by an astonishing 73%, in part down to the Samsung numbers. HP acquired Samsung’s printer business for $1.05 billion in November 2017, as part of a plan to improve its portfolio of A3 multifunctional printers. But Enrique Lores, HP’s president of printing, told us that “our returns were great with and without Samsung”. He added that it’s been a “great quarter for print” in terms of revenue growth and what HP is delivering to shareholders. In the last two years HP Inc’s share price has gone from around $11 to $24.