HP Reports Small Revenue Gain, Initiates Company Transformation

• Imaging and Printing Group (IPG) revenue declined 1 percent year over year, with a 14.7 percent operating margin. Commercial revenue was down 7 percent year over year ,with commercial printer hardware units up 1 percent. Consumer printer hardware revenue was up 1 percent year over year on 7 percent unit growth. IPG continued to drive innovation and momentum with digital presses and web-connected printers.

• Personal Systems Group (PSG) revenue declined 3 percent year over year with a 5.9 percent operating margin. PSG remains the PC market leader in terms of units, revenue and profit share. Commercial Client revenue grew 9 percent and Consumer Client revenue declined 17 percent.