HP Reports Small Revenue Gain, Initiates Company Transformation

HP’s Commercial businesses remain healthy with 5 percent revenue growth year over year. HP’s Consumer businesses, within PSG and IPG, were collectively down 15 percent year over year.

Third quarter revenue was flat year over year in the Americas as well as in Europe, the Middle East and Africa at $14.1 billion and $11.0 billion, respectively. Revenue in Asia Pacific was $6.1 billion, representing a 9 percent increase year over year. When adjusted for the effects of currency, revenue was down 2 percent in the Americas, down 5 percent in Europe, the Middle East and Africa and up 1 percent in Asia Pacific.