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HP Earnings Spike 28%

Posted Nov 19, 07 6:37 PM CST in Technology,  Business 

(Newser) – Computer and printer giant Hewlett-Packard rode strong server, software, and PC sales to a 28% boost in fourth quarter earnings from a year ago, CNN Money reports. The company posted a net profit of $2.2 billion, with a share price of 81 cents, up from 60 cents a year ago. The profits defied low industry expectations set by tech companies like Cisco Systems and Qualcomm, the Wall Street Journal reports.

Shipments of PCs were the crown in HP's jewel, as unit shipments climbed 31% from this quarter a year ago and banked $10.1 billion in revenue. CEO Mark Hurd called the industry "fairly steady" and said that HP "still has room to improve, but there's a tremendous opportunity out there and we like how we are positioned."

Sources CNN, Wall Street Journal

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A Best Buy employee puts a newly purchased Hewlett Packard printer in a car outside of a Best Buy store in Mountain View, Calif., Thursday, Nov. 15, 2007. Hewlett-Packard Co., the world's biggest PC...   (Associated Press)
Hewlett-Packard CEO Mark Hurd speaks at the Oracle World Conference in San Francisco, Monday, Nov. 12, 2007. Hewlett-Packard Co., the world's biggest PC seller, is scheduled to report fourth-quarter...   (Associated Press)
Hewlett-Packard CEO Mark Hurd speaks at the Oracle World Conference in San Francisco, Monday, Nov. 12, 2007. Hewlett-Packard Co., the world's biggest PC seller, is scheduled to report fourth-quarter...   (Associated Press)
The lobby of a Hewlett-Packard call center in Dalian, northeastern China's Liaoning province is seen Monday, Sept. 24, 2007. (AP Photo)   (Associated Press)
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computer  • corporate earnings  • Dell  • Cisco Systems  • Sun Microsystems  • Qualcomm  • servers


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