HP Sales Are Slow, But CEO Says Progress
June 24, 2015
According to Computer Weekly, “HP CEO Hails Business Split Progress Amid Downbeat Q2 Revenue Slumps.” HP’s Enterprise Service has the worst revenue reports for the quarter along with several more of its business units with a seven percent net loss. The Enterprise Service saw a sixteen percent loss.
Ironically, the company’s stock rose 1 percent, mostly due to HP expanding into China due to a new partnership with Tsinghua University. The joint venture will focus on developing HP’s H3C’s technology and its China-based server business, supposedly it will have huge implications on the Chinese technology market.
Another piece of news is that HP will split up:
“[CEO Meg ] Whitman also spoke in favour of the progress the company is making with its plans to separate into two publicly traded business entities: one comprised of its consumer PC and printing operations, and the other focused on enterprise hardware, software and services.
The past six months have reinforced Whitman’s conviction that this is the right path for the company to take, and the split is still on course to occur before the end of the firm’s financial year.”
The company wants to increase its revenue, but it needs to cut gross costs across the board. HP is confidant that it will work. Sales will continue to be slow for 2015, but they can still do investment banking things at HP.
Whitney Grace, June 24, 2015
Sponsored by ArnoldIT.com, publisher of the CyberOSINT monograph
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HP Sales Are Slow, But CEO Says Progress : Stephen E. Arnold @ Beyond Search