Posted 2/29/2024, 12:30:00 PM
HP Reports 7th Straight Revenue Drop But Sees Growth in Print Subscriptions and AI
- HP reported declining revenues for the 7th straight quarter amid economic uncertainty, but sees opportunities in new print subscription service and AI PCs
- HP Personal Systems revenue down 4% and Printing revenue down 5% year-over-year
- HP reducing costs and expects $1.6B in annual run rate savings by end of 2023
- HP launching new print subscription service with hardware upgrades every 2 years
- HP CEO expects "uneven" recovery across segments going forward