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Hewlett-Packard’s Personal Systems: Revenue Rose in Fiscal 3Q17

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Personal Systems revenue 

Hewlett-Packard’s (HPQ) Personal Systems reported revenue of $8.4 billion in fiscal 3Q17—a rise of 12% YoY (year-over-year). Its revenue rose 13% YoY on a constant currency basis. The segment saw double-digit growth for the third consecutive quarter. Its revenue rose 10% YoY in fiscal 1Q17 and fiscal 2Q17.

Earlier this year, Hewlett-Packard reclaimed the top spot from China’s (FXI) Lenovo (LNVGY) among global PC manufacturers. According to market research firm IDC, Hewlett-Packard’s PC shipments in 2Q17 rose 6.2% to 13.7 million units, which indicates a share of 22.8%. Overall PC shipments fell 3.3% in 2Q17. Other top PC manufacturers were Lenovo, Dell, Apple (AAPL) and Asus with market shares of 20.5%, 17.1%, 7.2%, and 6.8%, respectively.

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Hewlett-Packard successfully targeted the Premium segment in the PC market with Spectre x2. The firm also expanded its presence in the gaming space with Omen and a virtual-reality backpack. CEO Dion Weisler said, “We are now consistently achieving industry-leading results and setting the standard for the type of balanced performance the category has not seen in quite some time. The team’s execution is truly superb.”

Metrics in fiscal 3Q17

In fiscal 3Q17, Hewlett-Packard’s total unit sales rose 7% YoY. While notebook revenue rose 16% YoY, unit shipments rose 16% YoY in the quarter ending on July 31, 2017. For Hewlett-Packard’s desktop units, the revenue rose 5% YoY—compared to a 3% fall in unit shipments in fiscal 3Q17.

Hewlett-Packard’s commercial vertical revenue in the segment rose 11% YoY, while the consumer vertical revenue rose 14% in fiscal 3Q17. The operating profit for Hewlett-Packard’s Personal Systems segment was $313 million—3.7% of the total revenue.

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