HP reports strong results on PC, enterprise sales
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Hewlett-Packard reported solid financial results for its fiscal first quarter, driven by growth in PCs and enterprise hardware. The results prompted HP to raise its forecast for the year ahead.Revenue for the quarter, which ended Jan. 31, was $28.5 billion, up 13 percent from a year earlier, HP announced Tuesday. Pro forma net income was $2.3 billion, or $0.86 per share, up from $1.8 billion, or $0.65 per share, a year earlier.The figures beat the expectations of financial analysts, who had forecast revenue of $27.6 billion and pro forma earnings per share of $0.81, according to Thomson First Call. The pro forma figure excludes one-time items that slightly inflated the results. Using generally accepted accounting principles, HP&#39;s profit was $2.1 billion, or $0.80 per share.HP&#39;s Personal Systems Group, which produces its laptop and desktop PCs, grew its revenue 24 percent from the same period a year earlier, to $10.8 billion, with unit shipments up 27 percent. Notebook sales climbed fastest, up 37 percent, while desktop sales climbed 15 percent.The division had already been doing well. HP extended its lead over Dell in PC sales last year, according to figures from Gartner. HP ended the year with 18.2 percent of the market, compared with 14.3 percent for Dell. The PC market overall grew 13.4 percent.HP may find it hard to sustain that growth rate, in part because it has to make comparisons with increasingly successful quarters in the year before, CEO Mark Hurd said on a conference call. Still, Hurd said, &quot;when you look at 24 percent growth, I think that&#39;s pretty darned strong.&quot;HP&#39;s imaging and printing group performed slightly less well, with revenue climbing 4 percent to $7.3 billion. Printer unit sales declined by 1 percent from a year earlier, thanks to weakness in the consumer market. Revenue from supplies, which includes HP&#39;s profitable ink business, climbed 6 percent, however.Revenue from the servers and storage group climbed 9 percent to $4.8 billion. Sales of blades and industry-standard servers were strong, while HP&#39;s PA-RISC and Alpha chip businesses continued to shrink. Services revenue climbed 11 percent year-over-year to $4.4 billion, while software sales climbed 11 percent to $666 million, HP said.Hurd said he was pleased with the results overall. He attributed them to successful cost-cutting efforts, the addition of 2,000 new HP sales staff in the past year, and a diverse product portfolio.HP generates an increasing amount of its business overseas, he said. Its biggest market continued to be Europe, the Middle East and Africa, where revenue grew 15 percent to $12.3 billion. Asia-Pacific revenue climbed 22 percent to $4.9 billion. Growth in the Americas was a sluggish 8 percent, generating $11.2 billion.&quot;We generated 69 percent of our revenue outside the U.S., with emerging markets driving significant growth,&quot; Hurd said.The company now expects second-quarter revenue of $27.7 billion to $27.9 billion, and pro forma earnings per share of $0.83 or $0.84. That&#39;s above what analysts polled by Thomson had been estimating: pro forma profit of $0.82 and revenue of $27.4 billion.
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Hewlett-Packard Co  on Tuesday reported higher-than-expected quarterly earnings and forecast results ahead of Wall Street targets as it sold more PCs and server computers, sending its shares up 6 percent.
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Hewlett-Packard 1Q Profit Up 26 Percent
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Microsoft posted solid growth in quarterly sales and profit on Thursday, buoyed by strong holiday sales of personal computers and video games.
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Hewlett-Packard's decision to combine its PC and printing businesses makes sense.
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Hewlett-Packard Co.  on Wednesday posted a slight rise in quarterly profit, fueled by revenue gains across all of its businesses, and its shares rose more than 2 percent in after-hours trade.
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COMPUTER and printer maker Hewlett-Packard has reported record revenues in every business and every region, with quarterly profit up 27 per cent.
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Demand for personal computers loaded with its Windows operating system and strong sales of its Halo 3 video game helped lift Microsoftâs quarterly profit to $4.29 billion.
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Riding on record revenue across all its business segments, Hewlett- Packard Co. delivered surprisingly strong financial reports for its fiscal fourth quarter, with profit up 26.5 percent.
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Record revenue growth across all of Hewlett-Packard Co.&#39;s business units, particularly in its consumer electronics division, helped generate strong fourth-quarter earnings for the computer giant.
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SAN FRANCISCO: Hewlett-Packard Co said on Tuesday its quarterly profit rose 27% as the computer and printer maker saw record revenues in every business and every region and fixed problems with its server and storage unit, sending shares higher by 8%.
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Hewlett-Packard Co.&#39;s shares rose more than 4 percent Wednesday as investors reacted to its report a day earlier that earnings rose 26.5 percent in the fourth quarter, led by record revenue growth across all of the computer giant&#39;s business units
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By JORDAN ROBERTSON  SAN FRANCISCO - Hewlett-Packard Co.'s first-quarter profit jumped 26 percent as the company benefited from higher sales of laptop computers, printers and printing supplies during a robust holiday spending season.
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By Chadwick, Philip  HP has posted improved results for the second quarter of the year with a boost in revenues for its imaging and printing division. Over the period, revenue grew by 6% to Pounds 3.6bn ($7.2bn) while revenue for commercial printer units improved by 21%.
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By JORDAN ROBERTSON SAN FRANCISCO - Hewlett-Packard Co.'s first-quarter profit jumped 26 percent as the company benefited from higher sales of laptop computers, printers and printing supplies during a robust holiday spending season.
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(InfoWorld) - Hewlett-Packard topped Wall Street's revenue and earnings expectations in the first quarter of its 2007 fiscal year. HP posted net income of $1.5 billion, or $0.55 a share, in the quarter ended Jan. 31, 2007, compared to $1.2 billion, or $0.42 a share in the year ago quarter, the Palo Alto, California company said Tuesday. Excluding $279 million in adjustments on an after-tax basis, net income for HP (NYSE: HPQ) was $1.8 billion, or $0.65 a share, exceeding the consensus forecast for $0.62 per share from analysts polled by Thomson Financial. HP described the expenses as related primarily to the amortization of purchased intangibles and in-process research and development charges related to acquisitions. It also cited stock-based compensation expense in both current and prior years. Revenue came in at $25.1 billion, up 11 percent from last year's first quarter and above the $24.27 billion analyst forecast. Growth came from HP's personal systems group, which is desktop and laptop computers for consumers, with a 17 percent year-over-year revenue growth, and from imaging and printing, with 7 percent revenue growth. HP topped rival Dell as the leading seller of personal computers in 2006, according to IDC. At financially troubled Dell,Â former CEO and Chairman Michael Dell returned to the CEO office following the ouster of Kevin Rollins last month. "HP delivered a strong first quarter with improved margins and solid revenue growth across our businesses," said Mark Hurd, HP chairman and chief executive, in a statement.
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Solid growth across the computer and printer maker's businesses spur rise, HP says.