HP Business Grows First Time in 7 Quarters

HP has posted a quarterly growth for the first time in previous 7 quarters, its CEO Meg Whitman told at a conference call of the company. meg whitmanShe said:

“What most people will be surprised on this earnings call is how well PSG did … and I give a shout out to Dion Weisler and his team as they continue to execute. …Our multi-OS, multi- architecture, multi-form factor strategy is working well. Revenue grew 4% over the prior year, our first quarter of growth in seven quarters. …”

Unexpectedly the PC unit posted a revenue of $8.5 billion with sales to business rising by 8%.  However, the bad news is that PC buying by consumers continues to decline and was down 3% compared with the same quarter last year. Notebooks saw a rise of 5%.

However, Whitman was not confident that its Personal Systems Group was out of troubled waters yet. She said:

“Hard to call. This has been, over the last few years, a pretty volatile market. My experience over many years of business is that you always underestimate on the way down about how bad it’s going to be and on the way up sometimes it’s better than you think it’s going be.”

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