HP Outs Its Financial Results For Fourth Fiscal Quarter, Revenues Down

Now this depends on which calendar you are looking at, but on most recent ones you will find HP as either the first or second biggest PC maker on the planet. The hardware giant is big, very big.

But the woes of the struggling PC market has caught up with HP too, and even though it still continues to lead the industry in one way or another, things are not how it were for the company. While it managed to improve revenues for a short while recently, numbers have now taken a nosedive.

HP reported financial results for the fourth quarter of its fiscal year 2013 — the one that finished on October 31 — and the final sum came in at $29.1 billion, give or take a million, or two.

The worrying bit is that it is 3 percent less than the one reported in 2012.

Net revenue for the whole year dipped by 7 percent, and settled at $112.3 billion. Consumer revenue took a slide of a blocky 10 percent, and software revenue was not all that better either at minus 9 percent. More remarkably, Business Critical Systems was down by a momentous 17 percent for the year.

Obviously these are the biggest drops, though other areas of the company managed to fare better. Some even put up positive numbers, but on the whole HP is on a sure bit of a downwards trend.

The company has unleashed several new Windows 8.1 powered devices, and will now be looking to make the most of the next few months as people and businesses make the move to newer hardware.

Please Leave Your Comments Below...