PC MAKER HP has seen its revenue grow for the first time in three years to $27.58bn, helped by stronger than expected growth of its PC division, which grew 12 percent year on year.
The revenue rise was up from the $27.23bn the company made in Q3 2013, and up from $27.31bn in the same period last year.
Despite this growth, profits fell in Q3 2014, dipping under the $1bn mark to $985m. This is down from $1.39bn in the same period last year and $1.27bn in the previous quarter.
HP reported that its Personal Systems Group, which sells PCs, notebooks and workstations, saw revenues rise by 12 percent to $8.65bn. Consumer sales were up eight percent and business sales up 14 percent. Profit in the group was four percent of the total revenue.
CEO Meg Whitman was upbeat on this "excellent performance of the Personal Systems Group, noting that several factors were driving this uptick in sales.
"The Windows XP expiration has contributed to our growth. Although we believe we’re now through much of that benefit," she said.
"However, our product line-up, driven by products like our EliteBook Series and our x360 convertible notebook, is the strongest we’ve had in years and we continue to see customers looking to refresh their ageing installed base."
HP’s Enterprise Group division, covering areas such as networks and servers saw revenue rise by two percent.
However, all other units saw revenues fall. Printing was down four percent, enterprise services fell by six percent, software dropped by five percent, and financial services were down three percent.
Whitman touted HP’s recent unveiling of its new technology called The Machine as part of its efforts to conquer the software marketing around new areas such as big data.
"We rolled out our vision for what we call The Machine, a new computing platform for the Big Data era. The Machine has become a rallying cry across HP and frankly around the industry for the reinvention of how we compute,” she said.
Overall Whitman said that while the results were pleasing the company still had much to do to become a leaner, more productive outfit that the one she inherited a few years ago.
"Turnarounds are not linear and we face some tough comparisons in the fourth quarter, but overall I continue to be very encouraged by the progress we're making." µ
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