HP fiscal Q4 2013 revenues reach $39.1 billion with a 3% Y-o-Y drop-- better than expected results as HP Enterprise Group sales manage to turn around by growing by 2% Y-o-Y to $7.59 billion.
Overall fiscal 2013 revenue reaches $112.3bn with a 7% decline, while Q4 2013 cash flow drops by -31% Y-o-Y to $2.8bn.
Personal systems revenue drop by -2% Y-o-Y during Q4 2013, with a 4% increase in commercial revenues and a -10% decline in the consumer revenues. Total unit shipments grow by 2%, as split by a -5% decline in desktops and 3% rise on notebooks.
Meanwhile printing revenues fall by -1% Y-o-Y.
As mentioned earlier, the Enterprise group is the one bright spot for the company-- networking revenues grow by 3%, servers by 10% and storage by 1%. The group sees revenue declines in business critical systems (-17%) and technology services (-6%).
Enterprise services revenues decline by -9% Y-o-Y, and the same goes for software.
"Through improved execution, strong cost management, and with the support of our customers and partners, HP ended fiscal 2013 on a high note," HP CEO Meg Whitman says. "Our Q4 results demonstrate that HP's turnaround remains on track heading into fiscal 2014. While we still have much more work to do, our business units and their core assets are delivering on HP's strategy to help customers thrive by providing solutions for the New Style of IT."
