Telecom Lead America: HP has posted revenue of $30.7
billion in second quarter, down 3 percent compared with the same period last
year.
Its second-quarter net income dipped to $1.59 billion
from $2.3 billion in the second quarter of 2011.
HP CEO Meg Whitman said the company will invest cost
savings from the cutbacks into developing more products and services that fit
current IT trends, such as data mobility, big data storage and security,
networking and data analytics.
Personal Systems Group (PSG) revenue was flat year over
year. Commercial revenue increased 3 percent, and Consumer revenue declined 4
percent while Workstations revenue was down 1 percent year over year. Desktop
units were up 5 percent, notebook units were down 6 percent and total units
were down 1 percent.
Services revenue declined 1 percent year over year.
Technology Services revenue was flat year over year, Application and Business
Services revenue grew 1 percent and IT Outsourcing revenue declined 3 percent
year over year.
Imaging and Printing Group (IPG) revenue declined 10
percent year over year. Commercial hardware revenue was down 4 percent year
over year with commercial printer units down 7 percent. Consumer hardware
revenue was down 15 percent year over year with a 13 percent decline in printer
units.
Enterprise Servers, Storage and Networking (ESSN) revenue
declined 6 percent. Networking revenue was up 2 percent, Industry Standard
Servers revenue was down 6 percent, Business Critical Systems revenue was down
23 percent, and Storage revenue was up 1 percent year over year.
HP Financial Services revenue grew 9 percent. The
business delivered a 9.9 percent operating margin.
Software revenue grew 22 percent year over year,
including the results of Autonomy. Software revenue was driven by 7 percent
license growth, 17 percent support growth, and 72 percent growth in services.
Autonomy saw a significant decline in license revenue.
Q2
FY12 Q2 FY11 Y/Y
GAAP net revenue
($B) $30.7
$31.6 (3 percent)
GAAP operating
margin 7.2
percent
9.4 percent (2.2 pts.)
GAAP net earnings
($B) $1.6
$2.3 (31 percent)
GAAP diluted
EPS
$0.80
$1.05 (24 percent)
Non-GAAP operating margin 8.9 percent 11.3 percent (2.4 pts.)
Non-GAAP net earnings ($B) $1.9
$2.7 (28
percent)
editor@telecomlead.com
