On Thursday, the quarterly income of HP Inc beat the estimates of the analysts.
This was a result of the growth in the personal business of the company which sells desktops and notebooks along with the acquisition of the printer business of Samsung.
According to IBES data from Refinitiv that there was an increase of 11 percent in the personal system business of the company which constitutes about 60 percent of the total revenue generated.
The worth of that 11 percent rise accounts to $10.06 billion.
However the analysts had estimated the revenue to be $9.78 billion.
An analyst from the Susquehanna Financial Group, David Ryzhik stated that they were impressed by the PC side especially amidst the backdrop of “CPU shortages” that have been reported and have become well known already.
HP Inc is at the second position in the PC shipments all over the world in the third quarter of the current fiscal year.
It had a market share of 22.8 percent which has decreased from 23.9 percent in the previous quarter of the same fiscal year. This information was taken International Data Corp which is a research firm.
The company stated that its revenue increased by 9.1 percent in the printing business, having worth of $5.30 billion.
This value was slightly less than that of the estimation of the analysts who stated it to be $5.31 billion.
The acquisition of the Samsung Electronics Co Ltd was completed by the company for its printer business in the November of 2017 for $1.05 billion.
The move was aimed at strengthening the printer and copier business of the company which was sluggish during then.
HP has forecasted the adjusted profit for the current quarter to be 50 cents to 53 cents per share but the analysts expect the profit per share to be 52 cents.
Source: Reuters, ITNews
