HP Inc. reported a 4% increase in revenue in the quarter that ended Jan. 31, with notebook PCs jumping 16% and its line of gaming products OMEN gaining traction. HP is widely known for producing high-quality PCs and printing materials, both of which dominate HP’s revenue and profit for the last quarter. Its PCs shipment grew 6.6% compared to a year earlier whereas that of other suppliers fell 1.5%.
The company stock rose 50 bps after the earning reports were released Wednesday. Facing declining demands for desktop computers, notebooks, the company is targeting to spur growth in the high-end corporate notebooks. In the printing business, even though HP is struggling to compete with other producers of less-expensive ink and toners, its new printer called the Sprocket, a palm-sized product that is designed to pair with smartphone was reported to sold well over the holidays.
Furthermore, with the gaming industry generated a total of $99.6B in 2016, up 8.5% compared to 2015, HP’s earnings and growth prospective for 2017 seems promising as the company is expanding further its lines of gaming system.