HP Inc's quarterly revenue beat analysts' estimates last night, driven by growth in its personal systems business that sells notebooks and desktops and the acquisition of Samsung's printer business.
HP Inc houses the hardware business of the former Hewlett-Packard company.
The personal systems business, which accounts for more than 60% of HP Inc's total revenue, rose 11%to $10.06 billion, beating analysts' average estimate of $9.78 billion, according to data from Refinitiv.
The company had the second position in worldwide PC shipments in the third quarter with a 22.8% market share, down from 23.9% in the preceding quarter, according to research firm International Data Corp's data.
HP Inc said revenue from its printing business rose 9.1% to $5.30 billion, slightly short of analysts' estimate of $5.31 billion.
The company completed the acquisition of Samsung Electronics' printer business for $1.05 billion in November 2017 as a part of its efforts to strengthen the sluggish printer and copier business.
HP Inc said it has not considered any impact from unannounced tariffs or any significant demand changes that may result from an increase in geopolitical uncertainties.
The California-based company said it would consider price increases to respond to tariffs.
"We are working through a variety of mitigation items on the tariffs, pricing included to be one of the ways we mitigate," the company's chief financial officer Steve Fieler said.
The company forecast current-quarter adjusted profit of 50 cents to 53 cents per share. Analysts expected a profit of 52 cents per share.
Net earnings rose to $1.45 billion, or 91 cents per share, in the fourth quarter ended October 31, from $660m, or 39 cents per share, a year earlier.
Excluding items, the company earned 54 cents per share, in line with average analyst estimates.
The company said its fourth-quarter adjusted earnings and profit exclude after-tax adjustments of $586m, or 37 cents per share, related to restructuring and other charges and acquisition-related charges.
Net revenue rose 10.3% $15.37 billion. Analysts on an average had expected revenue of $15.1 billion.
