Personal Systems segment
US-based (SPY) technology (QQQ) firm Hewlett-Packard’s (HPQ) Personal Systems PC Group reported revenues of $7.7 billion in fiscal 2Q17. Revenues rose 10% YoY (year-over-year) and 10% YoY on a constant currency basis. Revenue from HP’s Personal Systems segment rose by double digits for the second consecutive quarter after a 10% rise in fiscal 1Q17 as well.
In 1Q17, Hewlett-Packard reclaimed the top PC manufacturer spot from Lenovo (LNVGY) with shipments rising 13.1% YoY from 11.6 million units in 1Q16 to 13.1 million units in 1Q17. The company’s market share rose from 19.4% to 21.8% during the same period.
HP’s shipment growth easily beat global PC shipment growth. The company increased its commercial share by 1.5 percentage points YoY and now has a share of 26.1%. Products such as the EliteBook x360, the world’s thinnest convertible laptop, and the ENVY Curved All-in-One desktop drove revenue in fiscal 2Q17.
Important metrics in fiscal 2Q17
HP’s desktop sales fell 1% YoY, and notebook sales rose 17% YoY in fiscal 2Q17. Total desktop units fell 6% YoY as compared to the 12% YoY rise in notebook units. However, total units rose 5% YoY. While the commercial revenue in this segment rose 7% YoY, consumer revenues rose 16% in fiscal 2Q17. The operating profit for HP’s Personal Systems segment stood at $244 million, which represents 3.2% of total revenues.