HP reports rough start to 2016 with 12 percent drop in Q1 revenue
HP has reported its earnings for Q1 2016, and it looks as though the PC maker is off to a rough start in its first quarter since being spun off from Hewlett-Packard as an independent company. Overall, HP says that quarterly revenue dropped nearly 12% to $12.2 billion from the same period last year.
HP says that its Personal Systems segment saw net revenue drop 13% over the same period a year ago. Breaking that down, total units were down 13%, with Notebooks and Desktops dropping by 8% and 13%, respectively. This echoes an overall recent trend of declining PC shipments that research firm IDC has predicted will last through 2016. It will be interesting to see if enticing new offerings from HP, like the new Elite X3, will be able to turn things around going forward.
For more on HP's Q1 2016 results, you can view HP Inc.'s full report at the source link below.
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Dan Thorp-Lancaster is the former Editor-in-Chief of Windows Central. He began working with Windows Central, Android Central, and iMore as a news writer in 2014 and is obsessed with tech of all sorts. You can follow Dan on Twitter @DthorpL and Instagram @heyitsdtl.