Thursday, May 26, 2016
HP Inc's revenue falls about 11 percent on weak PC, printer sales
(Reuters) - HP Inc
, which houses the former Hewlett-Packard Co's legacy hardware business, reported an about 11 percent drop in quarterly revenue as it struggles with weak demand for personal computers and printers.
HP's earnings from continuing operations fell to $660 million, or 38 cents per share, in the second quarter ended April 30, from $733 million, or 40 cents per share, a year earlier.
The company's revenue fell to $11.59 billion from $12.98 billion.
This is HP Inc's second quarterly results since the company split-off from Hewlett-Packard Co.
The other company, Hewlett Packard Enterprise Co
, announced on Tuesday that it would be spinning off and merging its struggling IT services business with Computer Sciences Corp .
(Reporting by Alan John Koshy in Bengaluru; Editing by Maju Samuel)