Lores has said that demand for PCs will continue at the elevated levels experienced during the pandemic despite the return to offices and schools. While the company is getting a boost from higher demand, HP has struggled to fill all its orders because of shortages of some types of chips. “Additionally, we have seen cost increases and we have responded to those with price increases, so we are managing our profitability well in an inflationary environment.”
“What we have seen is very strong demand, especially in commercial and high-premium consumer categories, which have higher prices and higher value,” Chief Executive Officer Enrique Lores said in an interview. Profit, excluding some items, was 94 cents a share, compared with an average estimate of 88 cents. Analysts, on average, projected $15.4 billion, according to data compiled by Bloomberg. 31, the Palo Alto, California-based company said Tuesday in a statement. Revenue gained 9% to $16.7 billion in the fourth quarter, which ended Oct. reported quarterly revenue that exceeded analysts’ projections, helped by a better supply of components to meet rising corporate demand for its personal computers.
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