HP's PC Revenue Declines

By Doug Olenick -- TWICE, 2/23/2011

New York - Hewlett-Packard's personal systems group (PSG) saw its first quarter revenue decline 1 percent on the back of soft consumer sales.

Overall, for the quarter HP generated $2.6 billion in profit on sales $32.3 billion in revenue, the company reported.

HP's PSG, which handles computer sales, did better in the commercial sector where an ongoing refresh cycle led to an 11 percent year over year growth for the quarter.

The imaging and printing group saw revenue increase 7 percent with strong growth in the consumer and business sectors.