H-P Posts Big Numbers Despite Slowing Market

PC and overseas sales boost earnings

By Matt Cantor, Newser Staff

Posted Feb 19, 2008 8:10 PM CST

(Newser) – Hewlett-Packard thumbed its nose at concerns over falling tech spending today, posting a 38% rise in earnings and 15% revenue jump in its first quarter, the Wall Street Journal reports. The health of the tech giant, boosted by PC and overseas sales, is good news for an industry whose leaders, including Microsoft and Google, don’t expect a booming 2008.

In a tough environment, “Hewlett-Packard is an execution machine,” says an analyst. The company’s success is thanks in part to new CEO Mark Hurd, under whom H-P has consistently beaten expectations. Despite a good quarter, however, Hurd admits that US PC sales growth is “probably not quite as robust as we've seen in the past.”

Hewlett Packard Company CEO Mark Hurd gestures during a keynote address at Oracle Open World Conference in San Francisco, Monday, Nov. 12, 2007. Since Hurd took charge, H-P has consistently exceeded financial... (Associated Press)

Hewlett-Packard Co. CEO Mark Hurd smiles during Oracle Open World conference in San Francisco, Monday, Nov. 12, 2007. Since Hurd took charge, the company has consistently exceeded financial expectations.... (Associated Press)

The lobby of a Hewlett-Packard call center in Dalian, northeastern China's Liaoning province is seen Monday, Sept. 24, 2007. Overseas sales boosted H-P's first-quarter numbers. (AP Photo) (Associated Press)

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Why Microsoft Is Doomed to Be an Also-Ran

Or worse. Its two biggest businesses—Windows and Office— are close to obsolete

Google's Profit Drops, But Still Beats Forecasts

$382M is off 68% from Q4 of '07; search giants looks to have restrained spending

Vista, Office Spur Microsoft to Huge Growth

23% gains in first quarter; new PC sales drive gains

Google, Yahoo, 13 Others Declare War on Phishing

New set of standards could make email more trustworthy

Google Earnings Disappoint

Shares plunge after rare miss on analysts' estimates

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