HP NYSE HPQ Printer Metrics

HPs conference call is ongoing, not yet to the Q&A, but wanted to share the updated "Printer Metrics" table that I use to track the key numbers that the company includes as part of the quarterly announcement.

Note the declines in hardware, continuing a trend but down much more sharply than weve seen before. Also note the lack of inclusion of "standout" segments HP has highlighted irregularly -- appliance photo printers, AIOs, and most recently, wireless printers.

An amazing performance overall, to be sure. 19% revenue decline for IPG overall, a decline in supplies and all those 30-plus numbers in the hardware categories, both units and revenues, but... profit over $1.1 Billion, within shouting distance of the highest profits ever ($1.2 Billion, three separate quarters) for the business.

(note to readers: the growing spreadsheet has finally scrolled off the blog page, in both dimensions, so just use your cursor to navigate to the hidden cells.)

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HP Printer Metrics latest quarterly view

HP pleased its shareholders and the markets generally last Thursday, with a jump in share price based on improved results and outlook. The increase in price, to nearly $25 at the close, was both a 52-week high as well as the biggest single days gain since 2001, as reported by Marketwatch in "HP Rally - Turnaround or Sugar High?" by Ben Pimentel, recalling a notable day in HP history.

The last time H-P’s stock rose by that much was on Nov. 6, 2001 after the family of co-founder Bill Hewlett, led by then director Walter Hewlett, came out against a proposed merger with Compaq Computer. H-P, then led by Carly Fiorina, acquired Compaq the following year.

But what about printers?

Remember last time ("What a difference - or not - seven years makes") and I went behind the numbers for further perspective? One of my findings involved the "sine wave" of printing revenues and their year-to-year compares, finding only four alternative (plus/minus) stages since 2006. With the small, but still in-the-red -1% quarterly revenue growth (decline), thats eight quarters in a row of negative compares, but eyeballing the curve, anyway, predicts a Q3 breakthrough to the black. Well see!

And heres our updated spreadsheet with the data.

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