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Dell, HP Beat Earnings Expectations

Posted November 24, 2021 | Dell | Hardware | HP | Mobile | share | Windows


Two of the world’s biggest PC makers just had monster quarters, providing an interesting peek at how PC buying has changed.

For the quarter ending October 29, Dell reported a net income of $3.9 billion on revenues of $28.4 billion, year-over-year increases of 341 percent and 21 percent, respectively. The revenue figure was a third-quarter record, Dell said.

For the quarter ending October 31, HP reported a net income of $3.1 billion on revenues of $16.7 billion, YOY increases of 364 percent and 9.3 percent, respectively.

HP is the world’s second-biggest maker of PCs, behind Lenovo. Dell is the third biggest maker of PCs, but its revenues are higher than HP’s because the firm also sells servers and enterprise services. HP spun off its enterprise business in 2015, forming Hewlett Packard Enterprise (HPE).

Dell reported that its PC shipments grew 26.6 percent YOY, and it expects “continued growth in high-value segments, including commercial PCs, high-end consumer and gaming – which will drive long-term profitable share gains.” Its Client Solutions Group delivered revenues of $16.5 billion, up 35 percent YOY, and most of that comes from commercial customers, which contributed a record $12.3 billion of those revenues, up an “unprecedented” 40 percent.

As for HP, its Personal Systems group delivered $11.8 billion in revenues, up 13 percent YOY. Revenues from consumer PCs decreased 3 percent, while commercial PCs revenues increased 25 percent. Total units sold were down 9 percent with notebooks sales down 12 percent and desktops sales up 2 percent. HP’s Printing group delivered revenues of $4.9 billion, flat with the prior year.

As you probably know, PC sales soared during the pandemic as people were forced to work from home and often needed new equipment; thanks to shortages, customers would buy whatever PCs and peripherals they could find. But a year and a half into the COVID era, PC buying patterns appear to have shifted again, with commercial PC sales once again surging thanks to our hybrid work needs. We can see this shift in both companies’ earnings.

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