HP Q4 Earnings Preview: Supply Chain Issues, Poly Update, Sales Slump
In a precarious year for Big Tech, HP Inc. will likely post lower revenue as expected, but the company should be eager to begin detailing its new Poly business and any supply chain constraint relief. HP CEO Enrique Lores in August foreshadowed “difficult headlines.”
Investors will likely want to hear how Poly will contribute to future gains as the company adds the peripheral giant to its portfolio after its $3.3 billion acquisition. Poly brings videoconferencing offerings, cameras, headsets, voice and software to HP. During a press briefing, Lores told CRN, “From an integration perspective, from a channel perspective, we are going to start enabling co-selling from both sides to make sure that we maximize opportunity.” He said he expects the channel programs will begin fully integrating in 2023, along with showing profitability.
There’s reason to be optimistic about the possibilities in peripherals business. Q3 saw the company’s growth portfolio, including gaming, peripherals, consumer subscriptions, workforce solutions and industrial graphics growing by double-digits, on track to exceed $10 billion on the year. The company is hoping to bolster its hybrid work offerings with Poly’s vast peripheral portfolio.