HP shows declines in fiscal Q4 2014-- revenues drop by -2% Y-o-Y to $28.4 billion and net earnings total $1.3 billion with a -4% Y-o-Y decline in the first quarter following the company's breakup announcement last October.
Fiscal full-year 2014 HP revenues total $111.5bn, a -1% decline from 2013, while earnings fall by -2% to $5bn.
Such results are in line with Wall Street forecasts, even if the company insists its turnaround remains "on track." As CEO Meg Whitman puts it, "we stabilised our revenue trajectory, strengthened our operations, showed strong financial discipline, and once again made innovation the cornerstone of our company… There's still a lot left to do, but our efforts to date, combined with the separation we announced in October, sets the stage for accelerated progress in FY 2015 and beyond."
Interestingly the company's fiscal Q4 highlight comes from of PCs-- Personal Systems revenues are up by 4% Y-o-Y, with total shipments up by 5%, an increase split between 8% notebook growth and a -2% drop in desktops. Otherwise all other HP segments see declines, be it Printing (-5% Y-o-Y), the Enterprise Group (-4%), Enterprise Services (-7%), Software (-1%) and Financial Services (-1%).
In the meantime HP is working to ensure its split into 2 companies will be as smooth as possible. According to the New York Times a team of 450 people is working on the transition, and the company is also "looking at ways that the two organisations can share in their component purchasing to contain the prices of their respective computers."
