HP CEO says company is at the 'heart of hybrid work' following revenue surge

Tech giant posts 27 per cent revenue increase as notebook sales grow considerably

The CEO of HP, Enrique Lores, praised his company for a "strong quarter" as GAAP net revenue for its Q2 grew 27.3 per cent to reach $15.9bn.

HP's non-GAAP diluted net earnings per share was $0.93, up from $0.51 the previous year, which is above the previously provided outlook of $0.84 to $0.90, the company said.

"We delivered another strong quarter, with double-digit top and bottom-line growth," Lores said.

"HP technology is increasingly at the heart of hybrid work and we are benefitting from exceptional demand for our products and services.

"Our performance and our positive outlook for the full year reflect the relevance of our innovation, the resilience of our business model, and the operational excellence of our teams."

Non-GAAP net earnings for the quarter stood at $1.2bn, a 56 per cent year-on-year increase, while generating $1.3bn of free cash flow in the second quarter.

The vendor saw big gains in its personal systems group, with net revenue hitting $10.6 billion which is up 27 per cent year-over-year, as notebooks units went up 63 per cent.

Printing net revenue was $5bn, up 28 per cent from last year, with total hardware units up 42 per cent.