Channel Beat: HP CEO Weisler Remains Confident Despite Continued Revenue Decline

HP Inc. reported declines in revenue and profits during its third financial quarter as the company continues to crawl out of the steep downward trajectory of previous quarters.

Revenue was down 4 percent year over year, and profits were down 8 percent.

But earnings per share were up, and the revenue and profit declines were an improvement over the double-digit drops HP has seen of late.

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CEO Dion Weisler remained confident about the company's pace of innovation and product portfolio.

Tech Data's Q2 numbers fell short of analyst expectations with sales down 3 percent from last year.

Net income dropped 39.3 percent and the news sent Tech Data's stock price down 9.5 percent.

The company attributes the declines to spending delays around mobile devices and increased competitiveness. Apple is reportedly releasing a new iPhone 7 and 7 Plus next month.

Security vendor Blue Coat Systems' channel chief Kurt Mills left the company this week, just as Symantec and Blue Coat begin to combine forces.

Mills confirmed he has left Symantec for a role at another company but did not offer details.

The long-time channel vet led channel operations at Blue Coat for a year and a half.

Symantec acquired Blue Coat earlier this month for $4.65 billion.