Printing segment revenues fell 17% YoY
Hewlett-Packard’s (HPQ) revenues from its Printing segment fell 17% YoY (year-over-year) to $4.6 billion and 11% YoY in fiscal 1Q16. Operating profit from this segment was $787 million, or 17% of revenues. Supplies constituted 67% of revenues in the Printing segment, whereas commercial hardware and consumer hardware accounted for 26% and 7% of revenues, respectively.
Supplies revenues fell 14% YoY and 8% YoY on a constant currency basis in fiscal 1Q16. Total hardware units fell 20% YoY with commercial hardware units falling 15% and consumer hardware units falling 23% YoY in fiscal 1Q16.
Hewlett-Packard expects the trajectory of revenues from the Supplies subsegment to stabilize by 2017. The average selling price rose quarter-over-quarter on a constant currency basis. The company also observed constant currency growth in Graphics for the tenth consecutive quarter and gained market share in Design and Large Format Industrial Printers.
Hewlett-Packard dominates hardcopy peripherals market
As you can see in the above chart, Hewlett-Packard continues to be a market leader in the worldwide hardcore peripherals market with a share of approximately 40%.
In the next part, we’ll see why Hewlett-Packard’s Personal Systems revenues decreased in fiscal 1Q16.
Hewlett-Packard is now accelerating the restructuring program and will lay off 3,000 employees by the end of fiscal 2016 instead of over three years.
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