HP reported a sharp hike in notebook shipments in Q1 2015 as part of a disappointing set of results that sent stocks tumbling.
Total units shipped increased by nine per cent year-on-year with notebooks up a whopping 21 percent whereas desktop units arrested that rise slightly as units decreased by seven per cent compared to the previous year.
Elsewhere the Q1 2015 results call was anything but rosy with net revenue down five per cent to $26.8 billion (about £17.3 billion, or AU$33.9 billion) and net earnings completely flat at $1.45 billion (about £940 million, or $1.84 billion) for the same period.
That was in addition to decreases in revenue from printing (five per cent), enterprise services (11 per cent), software (five per cent) and financial service (eight per cent), with personal systems and enterprise group revenue staying flat.
Closing gap on Lenovo
The latest set of results are among the last few before HP is split in two with HP Inc focused on printing and PC business and Meg Whitman leading Hewlett Packard Enterprise with the process expected to be complete by October 2015.
HP is second only to Lenovo in the worldwide PC vendor market and had an 18.8 per cent share of the market in Q4 2014 compared to its competitor's 19.4 per cent share, according to Gartner. This grew by 16 per cent compared to the previous year and HP also leads the US market with a 29.2 per cent share of unit shipments.
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