https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2021 MSP 501 Application
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2021 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2021 MSP 501 Application
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2021 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Digital Service Providers
  • Cloud Service Providers
  • CHANNEL PARTNERS ONLINE
 Channel Futures

Sales & Marketing


HP Whiffs on PCs, Software, Services in Last Quarterly Report Before November Split

  • Written by DH Kass 1
  • August 21, 2015
HP’s sales have fallen in 15 of the vendor’s past 16 quarters and this period was no different as sales slid 8.1 percent from last year to $25.3 billion.

Hewlett-Packard’s (HPQ) disappointing FQ3 2015 results, admittedly executed against a headwind of declining PC demand and curtailed corporate buying, nonetheless left a sour taste only weeks ahead ahead of the vendor’s split into a PC/printer operation and an enterprise businesses.

HP’s sales have fallen in 15 of the vendor’s past 16 quarters and this period was no different as sales slid 8.1 percent from last year to $25.3 billion, slightly below analysts’ expectations. Net income for the quarter slipped 13 percent from last year to $854 million. GAAP per share earnings came in at $0.47, well below the $0.50 to $0.54 a share prior outlook.

“In Personal Systems and Printing, market declines and competitive pricing pressures have accelerated since May,” said Meg Whitman, HP chairman, president and chief executive on an earnings call. “While Dion [Weisler] and his team are aggressively managing costs and gaining share in key focus areas, we now see a difficult business environment for at least several quarters to come,” she said.

Whitman’s tone was more upbeat concerning HP’s enterprise division.

“We’re seeing the benefits of the work we’ve done over the past several years to strengthen the product strategy and go-to-market execution for the Enterprise Group,” she said.

For the quarter, sales declined in five of HP’s six business segments, with the Enterprise Group’s 2 percent uptick in revenue the only bright spot. By comparison, for FQ3 PC sales fell 13 percent to $7.5 billion, printers dipped 9 percent to $5.1 billion, Enterprise Services slid 11 percent to $4.9 billion, Software tumbled 6 percent to $900 million and Financial Services declined 6 percent to $806 million.

“We did face a challenging macroeconomic and IT spending environment in the third quarter, with soft consumer spending, continued weakness in Russia and China, and stock market volatility driving uncertainty,” Whitman said.

Don’t be surprised if in the wake of HP’s split the vendor adds to its previously stated 2012 plan to layoff a total of 55,000 people. Some 3,900 people exited the company in FQ3, said Cathie Lesjak, HP chief financial officer, on the earnings call.

By the end of Q4, HP could add another 5 percent to its prior total job loss estimate, she said.

HP pared its full year EPS outlook to $3.59 to $3.65 a share from the prior guidance it issued last May of $3.53 to $3.73 a share.

“The next several quarters we think are going to be pretty tough,” Whitman said.

Tags: Cloud Service Providers Digital Service Providers MSPs VARs/SIs Sales & Marketing

Related


  • Partner Program Update
    Palo Alto Networks Rolls Out Latest NextWave Partner Program
    NextWave 3.0 will help partners differentiate their services.
  • Accelerate
    OneLogin Hires Juniper Networks Vet to Lead Accelerate Partner Program
    OneLogin last fall expanded its Accelerate partner program to include partner tiering.
  • Cybersecurity
    Fortinet Vet Geoff Kreiling Departs for Deep Instinct
    He plans to build out Deep Instinct's partner program.
  • Growth
    Atera Investment to Help Company Assist More MSPs, IT Pros
    Atera works closely with more than 6,000 MSPs and IT professionals in 75 countries.

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • AppNeta Launches Global Alliances Program
  • Cybereason Hires Check Point, Fortinet Channel Leaders in North America Expansion
  • UK Channel Expects Big Growth in 2021, Cybersecurity a Big Driver
  • Racially Charged Tweet Costs Alteryx CRO His Job

Galleries

View all

From The Second City: How to Use Improv as a Business Tool

March 3, 2021

Industry Perspectives

View all

5 Ways XDR Can Improve Operational Efficiency for MSPs

March 4, 2021

Multi-Cloud: Strategy or Inevitable Outcome? (or both?)

March 3, 2021

Backup Vulnerability: 4 Targets Hackers Might Utilize to Infiltrate Your Backup Solution

March 2, 2021

Webinars

View all

A Partner’s Perspective on Channel Success in 2021

March 23, 2021

XDR and Why it Matters to MSPs

March 24, 2021

Top Security Trends Impacting Technology Security Providers In 2021

March 25, 2021

White Papers

View all

Why Fortinet for my MSSP?

March 2, 2021

Small and Mid-Size Business Security: 4 Steps to Success

March 2, 2021

How SMBs Can Secure Endpoints and Remote Workers for the Long Haul

March 2, 2021

Upcoming Events

View all

Channel Partners Conference & Expo

November 1, 2021 - November 4, 2021

Videos and Fastchats

View all

FASTCHAT: How SOAR Eliminates Security Challenges and Elevates Service Provider Revenues

January 6, 2021

Happy Holidays from Channel Partners & Channel Futures!

December 21, 2020

FASTCHAT: How Old, Unpatched Technologies Are Creating New Security Threats for MSPs and Their Customers

December 3, 2020

Twitter

ChannelFutures

Our latest #Cybersecurity Roundup highlights #CPVirtual, @Huntresslabs, @Entrust_Corp and @InsightEnt.… twitter.com/i/web/status/1…

March 5, 2021
ChannelFutures

RT @Channel_Expo: A HUGE thank you to our amazing #CPVirtual sponsors and exhibitors! 👏 @ATTBusiness @DellTech @8x8 @lumentechco @telarus @…

March 5, 2021
ChannelFutures

.@okta acquiring rival @auth0 in $6.5 billion all-stock transaction. #security dlvr.it/Rtzwdp https://t.co/4LvHCJuwsR

March 4, 2021
ChannelFutures

.@MicrosoftTeams features are coming to @MSFTDynamics365, the company announced at @MS_Ignite. #MicrosoftIgnite… twitter.com/i/web/status/1…

March 4, 2021
ChannelFutures

.@PreciselyData acquired by Clearlake Capital, @TAAssociates. #digitaltransformation dlvr.it/RtzbKg https://t.co/1rNYnTScxq

March 4, 2021
ChannelFutures

Thanks for attending #CPVirtual. Here's a Day 3 wrap and a look ahead to #CPExpo Homecoming in November!… twitter.com/i/web/status/1…

March 4, 2021
ChannelFutures

.@Veeam announces six annual Impact Partner Awards, with @SHI_Intl, @LogicalisUS, more. #cloud… twitter.com/i/web/status/1…

March 4, 2021
ChannelFutures

#XDR can improve operational efficiency for #MSPs. @TrendMicro #security #endpoint #AI #threatintelligence… twitter.com/i/web/status/1…

March 4, 2021

MSSP Insider

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Channel Partners Online

Want more? Find more channel news and analysis on our sister site, Channel Partners.

Media Kit And Advertising

Want to reach our audience? Access our media kit

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Online
  • Channel Partners Events
  • MSP 501
  • MSSP Insider
  • IoT World Today
  • Webhostingtalk

WORKING WITH US

  • Contact
  • About us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2021 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X