For four straight quarters Hewlett-Packard has recorded revenue drops and sales decreases as the market continues to change.
The announcement Thursday of the revenue decrease also came with news of an eight percent sales decrease over the previous year. Matching that figure was the 8.1 percent drop in revenue with a $25.35 billion recording.
“HP delivered results in the third quarter that reflect very strong performance in our Enterprise Group and substantial progress in turning around Enterprise Services,” HP CEO Meg Whitman stated in a company press release. “I am very pleased that we have continued to deliver the results we said we would, while remaining on track to execute one of the largest and most complex separations ever undertaken.”
Yet, with PC sales decreasing and demand for services from corporations faltering, as reported by Reuters, HP is struggling. Thursday’s third quarter figures come as the nearly 80-year-old company prepares to split into two different entities: one to handle its corporate services and hardware business and another managing the printer and computer side.
It’s that split that some people feel may be the key factor in HP’s growth and ability to maintain some importance in the changing sector.
“We get it. They’re not growing. Yeah, everything’s bad, but maybe there’s some upside when they do split and things start to get going for them in the enterprise segment,” Daniel Morgan of Synovus Trust Company, which owns HP shares, told CNBC.