HP Q3 profit plunges 19%


Its revenues for the latest quarter fell to US$27.5 billion from US$28 billion in the same period a year ago, it said.

Even though, the firm saw a two per cent increase in shipment of personal computers, revenues from the personal systems group (PSG) declined 18 per cent to US$8.4 billion.
Further, revenues from the Imaging and Printing Group (IPG) tumbled 20 per cent to US$5.7 billion and printer unit shipments decreased 23 per cent.

“Revenue from outside of the US in the third quarter accounted for 62 per cent of total revenue, with revenue in the BRIC countries declining six per cent over the prior-year period,” it added.

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