HP Printing sales up by 14 per cent
Shares jumped at HP as the company reported better than expected full year earnings, with sales at its printing division topping US$20bn.
Commercial printing, which includes office printing solutions, commercial products and OEM hardware, graphics solutions, 3D printing and digital manufacturing accounts for 7 per cent of the company's overall turnover.
Sales in the Printing division rose by 14.1 per cent to$20.13bn, with the division seeing its operating margin rise by four per cent to 18.1 per cent.
HP manufactures the HP Indigo digital press series, as well as a wide range of wide format print systems, both roll-to-roll and flatbed.
Enrique Lores, HP president and CEO, said: “Our results reflect a growth-oriented company on its front foot and hitting its stride. We delivered a very strong quarter to close out an exceptional year of double-digit revenue, operating profit and EPS growth while returning record levels of capital to shareholders.
“HP is at the heart of hybrid with an innovative portfolio of hardware, software and subscriptions that position the company well for sustained growth in fiscal year 2022 and beyond.”