Operating margins in the Printing segment, which comprises supplies, commercial hardware and consumer hardware, averaged 16% for the three-month period to 30 April 2018.
The manufacturer’s Personal Systems division, which comprises workstations, notebooks and desktops, saw net revenue climb by 14% year-on-year, from $7.7bn in Q2 2017 to $8.8bn.
HP’s net earnings grew from $559m, or 33 cents per share, to $1.06bn, or 65 cents per share, in the period. Profits in the Printing segment grew by 2.3% year-on-year, from $820m in Q2 2017 to $839m, while profits in Personal Systems jumped by 35.7%, from $244m to $331m.
Supplies contributed the largest amount of sales to the Printing division, with net revenue up 8% year-on-year from $3.19bn to $3.43bn. Commercial hardware sales climbed by 27%, from $936m to $1.19bn, and consumer hardware was up by 3%, from $604m to $621m.
“I am quite pleased with our Q2 performance. It’s yet another quarter of strength, growth and consistent execution of our reinvention,” said HP Inc president and chief executive Dion Weisler.
“We are creating opportunities and taking advantage of favourable market dynamics to deliver strong revenue and profitability across our segments and our regions.”
The manufacturer has returned $1.03bn to shareholders in Q2 in the form of share repurchases and dividends.
Hewlett-Packard was split into HP Inc and Hewlett Packard Enterprise Company in November 2015. Last month the manufacturer debuted new printers for both its Latex and DesignJet families at Fespa in Berlin, including the 2.5m-wide Latex R2000, its first hybrid to use Latex technology.
