HP’s results for the third quarter beat analysts’ expectations, it was unveiled this Friday. However, the company’s stocks still dipped in extended trading, CNBC reported.
The company earned $14.59 billion in revenue, representing a 12 per cent jump, compared to the same period last year, HP said.
Its Personal Systems segment, which sells consumer and commercial PCs, notebooks, desktops and workstations, generated most of its revenue for the period - $9.4 billion. The estimate was $9.03bn.
The Printing segment earned $5.19 billion in revenue, up from the estimated $5.11.
"We sort of still predict declining units in traditional PCs, with flattish revenue, so our ASPs [average selling prices] are growing," HP CEO Dion Weisler said in an interview with CNBC on Thursday.
The stock fell 1.1. per cento to $24.63 after the report was published, and later fell more than four per cent below closing price. However, looking at the whole year, HP’s shares are up 17 per cent.
HP said Windows 10 is to thank for a lot of the earnings, as people migrated from older systems. HP sells plenty of machines running Windows 10.
"I would say this Windows 7 sunset and migration to Windows 10 is providing some stimulus to the market, but it's not quite as spiky as previous operating system transitions," Weisler said.
Image Credit: Ken Wolter / Shutterstock