HP Reports 3Q Earnings Down 5% – Printers Off 23%

HP has reported third quarter earnings are down 5% compared to last year. Printer sales were down 23%, mirroring trends across the market. Revenues were $29.7 billion, down from $31.2 billion. HP's earnings per share came in at $1.00, above the previously provided outlook of 94 to 94 cents per share and in line with its pre-announcements. EPS, though was down 9% from the prior-year period. Like Dell's results yesterday, HP showed its steepest declines in its consumer products with revenue off 13% year over year for hardware and printer units down 23%,

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