HP Inc’s latest financial results have revealed that the firm performed better than expected during the first quarter of 2021, causing its shares to rise by seven percent shortly after publishing the figures. During Q1, HP generated $15.6 billion in revenue, a seven percent increase on the $14.6 billion reported in Q1 2020. As a result, the firm has revised its EPS outlook upwards from $0.58-$0.64 to $0.83 per share, and investors responded positively with HP’s shares rising seven percent from $27.45 to $29.44 shortly after the announcement. Personal systems comprises revenue earned from the company’s Notebooks, Desktops, and Workstations divisions, while its Printing segment includes revenue gained from its Supplies, Consumer Hardware, and Commercial Hardware divisions. Making up the majority of HP’s revenue during Q1 2021 at $10.6 billion, the Personal Systems segment saw a seven percent increase in revenue over Q1 2020, when it posted $9.9 billion. HP’s Printing division also showed a seven percent increase in revenue during the period, rising from $4.7 billion in Q1 2020 to $5 billion. In Q4 2020, HP’s 3D printing revenue was boosted by the sale of a HP Multi Jet Fusion 5210 to the 3DPRINTUK service bureau, alongside revealing its new Universal Build Manager in partnership with software firm Dyndrite and the development of new materials for its MJF 3D printing technology with specialty chemicals company Evonik.
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