HP which has the printer and PC business has predicted that it is going to do worse than the cocaine nose jobs of Wall Street predicted while HPE which has the enterprise stuff is going to do OK.
Who would have thought it when HP's old CEO appears to have chosen herself ot be the head of HPE? We feel sorry for Dion Weisler who took the HP CEO job and has to admit that the PC market will be pants for more quarters to come.
PC sales have been falling sharply worldwide and the recent launch of Windows 10 has so far failed to reboot the industry, he sighed.
Revenue in HP's personal computer and printer businesses fell about 14 percent in the fourth quarter ended October 31, pushing HP’s overall revenue down for the fifth straight quarter.
The results are the last for the old HP before HP and HPE start to report separately.
Old HP revenue from enterprise services division fell nine percent, while revenue from its enterprise group rose two percent. Overall, revenue at the old HP fell 9.5 percent to $25.71 billion.
Net income fell to $1.32 billion from $1.33 billion a year earlier. But on a per share basis, profit rose to 73 cents per share from 70 cents, because there are fewer shares out there.
Still things do not look good for HP.