His margins are consistently high (14.7% OpInc in 3FQ11), since HP has few rivals in printing and none on its scale, but his growth rate is in the low single digits at best.
He disagreed that this was good for competition in the books markets and said that the "economics of the e-book industry is quite different to the print industry" because costs are the same up until first copy but after that e-books incur none of costs of printing and distribution.