[caption id="attachment_95116" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   Fiscal 3Q19 Results HP reported fiscal 3Q19 revenues of $14.60 billion, flat year over year, in line with the $14.62 billion consensus estimate. Adjusted EPS was $0.58, up 11.5% year over year and beating the $0.55 consensus estimate. Segment Performance

• Personal systems revenues were $8.9 billion, up 1.8% year over year.

o  Notebook revenues were $5.1 billion, down 1.0% year over year. o  Desktop revenues were $2.9 billion, up 6.8% year over year. o  Workstation revenues were $569 million, up 5.87% year over year. o  Other revenues (which includes point-of-sale or POS systems) were $313 million, down 1.0% year over year.

• Printing revenues were $5.1 billion, down 2.4% year over year.

o  Supplies revenues were $3.3 billion, down 3.0% year over year. o  Commercial hardware revenues were $1.2 billion, up 3.0% year over year. o  Consumer hardware revenues were $3.3 billion, down 3.0% year over year. Details from the Quarter

• Personal systems: HP launched more than 40 new innovations in the quarter, and the company continues to invest in key priorities including new products, services and solutions.
• Commercial hardware: The company is developing products to meet the needs of an increasingly mobile workforce, launching the latest EliteBook x360 lineup in the quarter, which includes convertibles with up to 24 hours of battery life. Management also commented that HP continues to expand its security and leadership position across its segments.
• Personal systems: Management aims to drive an aggressive forward-looking agenda to reinvent the way people work, live and play, enhancing its products, supply chain and go-to-market strategy to capture ongoing demand and navigate industry dynamics.
• Print: Revenues were down, driven by supplies, yet HP believes it outperformed the market in an increasingly challenging environment. In the contractual market, the company continues to make progress leveraging its differentiated technology and IP to capture opportunities. HP continues to gain traction and scale, aided by the smooth integration of Samsung Printing into the portfolio. The contractual office and consumer industry portfolio grew revenue double digits in the quarter. In graphics, HP continues to see adoption of its technology as customers increasingly go digital, and the new HP Stitch portfolio is being positively received by customers. In the quarter, the company introduced HP Neverstop Laser, a printer for small business owners in emerging markets.
• Supplies: Management has been aggressively addressing this business and claims progress relative to the strategic and operational initiatives outlined previously. HP is growing its contractual businesses and adapting its business models.
• 3D Printing: HP opened a 150,000-square-foot 3D Printing Center of Excellence in Barcelona. The company also continues to drive installations with industrial grade customers and is seeing early traction for its Multi Jet Fusion 5200 solution. Customers are embracing new data and software capabilities to achieve new levels of industrial manufacturing predictability, reliability, efficiency and quality.

Announces CEO Succession Separately, HP announced that President and CEO Dion Weisler will step down due to a family health matter and that Enrique Lores, currently President of HP’s Imaging, Printing and Solutions business, will succeed him, effective November 1. Implications for Retail HP has leveraged its broad technological capabilities and leading market position in PCs and related technology to become a leader in the global market for retail POS terminals. POS terminals continue to grain intelligence, taking on additional features as inventory management, CRM links and employee scheduling, as well as gaining mobile functionality. The other subsegment, which includes the POS business, posted revenues of $313 million in the quarter, down 1.0% year over year. Outlook HP raised its fiscal 2019 adjusted EPS guidance to $2.31-$2.35 (up 14%-16%) from $2.14-$2.21 previously.