HP bets on AI as it seeks a PC-powered rebound

AFTER more than a year of lower revenue and earnings, American information technology company HP is ready to make a comeback in 2024, the company’s top executive said.

“We think that the core businesses will return to growth,” chief executive officer Enrique Lores told The Business Times during a visit to HP’s Singapore office.

For FY2021, the company’s net earnings more than doubled to US$6.5 billion as it rode on the post-pandemic rebound. The following financial year, however, net earnings just about halved to US$3.2 billion, and revenue dipped 0.8 per cent to US$63 billion. (*see amendment note)