HP has posted its sixth consecutive quarter of double-digit growth in its Q2, with revenues up 13 per cent year on year to $14bn (€12.3bn).
During the three months to 30 April, operating profits were also up to $964m, an increase of 15 per cent.
We take a look at some of the key takeaways from the vendor's Q2 numbers.
HP exceeded Wall Street expectations
HP's Q2 results saw net earnings per share soar by 49.2 per cent to 65 cents a share. Adjusted for special items, net earnings grew about 16 per cent to $800m, or 48 cents a share.
Wall Street previously forecast revenues of $13.57bn and earnings of $753.5m, or 45 cents a share, according to Thomson Reuters.
Commenting on his company beating the market's expectations, HP CEO Dion Weisler (pictured) said in an earnings call transcribed by Seeking Alpha: "We delivered another quarter of double-digit year-over-year revenue and profit growth, strong EPS and impressive free cashflow and performed well across segments and regions. Our sharp focus on innovation, combined with operational excellence and driving profitable growth, is paying off."
Breaking down performance regionally, EMEA posted the highest growth at 21 per cent, in comparison with 13 per cent growth in APAC and Japan, and seven per cent in the Americas.
Strong PC sales despite component price rise
IDC named HP as the top PC maker last month, with 22.7 per cent of the market, ahead of Lenovo and Dell.
HP's Q2 results confirm that personal computing systems remain the California-based vendor's top segment, accounting for 37 per cent of net revenues.
By unit, personal systems revenue grew by 14 per cent in the second quarter year on year.
"In the first calendar quarter, we outgrew the PC market by 4.6 points," Weisler said.
"While we are proud of these results, share gain continues to be an outcome, not an objective. Profitable growth continues to be our focus.
"In Personal Systems this quarter, we made progress in areas such as retail point-of-sale and device-as-a-service, where we saw strong double-digit growth."
The firm's success comes despite the concerns over rising component prices flagged in its first quarter.
At the time, CFO Catherine Lesjak acknowledged that the trend had pushed HP to "mitigate via pricing" in order to adapt.
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