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PC市场回暖提振下惠普(HPQ.US)Q3业绩超预期 预计贸易相关成本将尽快完全抵消
HPHP(US:HPQ) Zhi Tong Cai Jing·2025-08-27 23:19

Core Viewpoint - HP reported better-than-expected Q3 results but faces investor concerns over economic uncertainty and increased costs related to trade policies [1] Financial Performance - HP's revenue for Q3 of fiscal year 2025 increased by 3.1% year-over-year to $13.9 billion, surpassing analyst expectations of $13.7 billion [1] - Adjusted earnings per share were $0.75, exceeding the average analyst forecast of $0.74 [1] Business Segments - The personal systems segment saw a revenue increase of 6% year-over-year to $9.9 billion, with PC sales also rising by 6% [1] - The printing segment experienced a revenue decline of 4% year-over-year to $4 billion, which negatively impacted overall profitability [1] Market Trends - There are signs of recovery in the long-depressed PC market, with Gartner reporting a 4.4% increase in global PC shipments in Q2 2025, driven by enterprise upgrades to Windows 11 [2] - Consumer demand remains sluggish, with buyers delaying purchases, while enterprises have built up PC inventories to avoid tariffs [2] Company Strategy - HP's CEO stated that the company has shifted nearly all products sold in North America to manufacturing facilities outside of China to mitigate tariff impacts [1] - The company is focusing on higher-priced, higher-margin printer products to improve profitability in the printing segment [1]