9 September 2020
HP Down By 20% In Printing Division
Recently had staff cuts world wide
Recently had staff cuts world wide
Revenue  for the  Printing division was down by 20%. The Printing division  revenue was $3.93bn US, down 20% from a year ago. The Printing division includes supplies, commercial hardware and consumer hardware.The largest category in the Printing division is Supplies, which saw year-on-year revenue drop by 19% 19%.
Commercial hardware sales dropped by 37% year-on-year, while consumer hardware climbed by 7% to $628m. Chief executive Enrique
CEO Enrique Lores
CEO Enrique Lores
Lores said that while commercial business segments such as graphics have been challenged due to business closures, HP has seen some “attractive pockets of growth”, and noted that labels and packaging saw impressions increase by 14% year-on-year.HP  has posted financial results for their third quarter that were ahead better than expected and only slightly down on last year.
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