HP blames discounted PCs and China chill for Q3 revenue drop

silversurfer

Level 85
Thread author
Verified
Honorary Member
Top Poster
Content Creator
Malware Hunter
Well-known
Aug 17, 2014
10,511
HP is putting a brave face on its third quarter 2023 results, claiming it's making progress to long-term growth priorities while enacting structural cost savings, despite revenue being down nearly 10 percent year-on-year.

The PC and printer maker blamed an "aggressive pricing environment" holding down computing prices, as well as sluggish demand in China, as reasons why the market is not improving as quickly as it had earlier anticipated.

HP's net revenue for Q3 was $13.2 billion, down 9.9 percent from the same period last year but up 2 percent over the previous quarter, allowing president and CEO Enrique Lores to claim that the company is delivering on its plan to drive sequential improvement.

Lores said that HP "continues to navigate an uneven environment," with enterprise customers cautious about spending thanks to the rising cost of capital. The consumer segment also remains weak, but the SMB sector is showing some resilience, he claimed.
 

About us

  • MalwareTips is a community-driven platform providing the latest information and resources on malware and cyber threats. Our team of experienced professionals and passionate volunteers work to keep the internet safe and secure. We provide accurate, up-to-date information and strive to build a strong and supportive community dedicated to cybersecurity.

User Menu

Follow us

Follow us on Facebook or Twitter to know first about the latest cybersecurity incidents and malware threats.

Top