HP put a smile back on the face of US investors this morning by posting better than expected results for its fiscal fourth quarter.
The technology mammoth saw overall revenues surge 15 per cent year-on-year - or 11 per cent adjusting for currency effects - to $28.3bn for the three months to 31 October. GAAP operating profit hit $2.6bn for the quarter.
HP’s flagship Personal Systems Group led the way with a 30 per cent turnover
spike.
HP Software was also labelled a star performer after it doubled revenue during
the quarter to $698m.
Breaking the results out by geographies, EMEA held its own with a 12 per cent revenue rise after adjusting for the weak dollar. The US grew nine per cent, while Asia Pacific leapt 14 per cent.
Mark Hurd, chief executive officer at HP, said: “Strong performance across our businesses was highlighted by sharp improvement in our software segment.
“We have added over $12bn of new revenue this year. While we still have more work to do, HP is well positioned to make further progress in the marketplace.”
Further reading:
Vendor reports growth across the board and predicts $30bn turnover in Q4 20 Aug 2008
Profits jump to $8.7bn in a record year for the printing giant 20 Nov 2007
Surge in Global Services revenues not enough to halt share price plunge 31 Jul 2008
Financial results from global distribution heavyweights hint at tough year ahead 25 Apr 2008
Unable to find the low carbon vehicles it wants, delivery giant DHL is planning to support innovative new start ups itself 13 Oct 2008
Company launches carbon offset scheme in Middle East and pledges to sign up more markets to carbon reduction programme 13 Oct 2008
As member states meet to discuss EU's proposals, fears are growing that key components of the legislation will be watered down 13 Oct 2008
More news
Global logistics giant claims thousands of tiny efficiencies can deliver big carbon savings 13 Oct 2008
The entire US financial system may be on the ropes, but according to Richard Seireeni, the recently formed "Salmon Nation" financial network is doing just fine 09 Oct 2008
BusinessGreen.com casts its eye over the simplest means of harnessing some geothermal power 08 Oct 2008 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
