INTERNATIONAL – Shares of HP, which houses the hardware business of former Hewlett-Packard Co, were marginally up in extended trading.
The personal systems business, which accounts for more than 60 percent of HP Inc’s total revenue, rose 11 percent to $10.06 billion (R137 bn), beating analysts’ average estimate of $9.78 billion, according to IBES data from Refinitiv.
“On the PC side, we are impressed, particularly amidst a backdrop of reported ‘CPU shortages’ that are already well known,” said David Ryzhik, an analyst with Susquehanna Financial Group.
The company had the second position in worldwide PC shipments in the third quarter with a 22.8 percent market share, down from 23.9 percent in the preceding quarter, according to research firm International Data Corp’s data.
HP said revenue from its printing business rose 9.1 percent to $5.30 billion, slightly short of analysts’ estimate of $5.31 billion.