HP on its way to become biggest tech company

Posted on Tuesday, November 21 2006 @ 0:50 CET by Thomas De Maesschalck

HP is on its way to come the largest tech company, BusinessWeek reports. Currently this title still belongs to IBM but HP is getting closer and closer:

Even HP's inconsistent corporate computing arm, a frequent money-loser in the past, delivered a 42% increase in operating profits, on 4% revenue growth, to $4.7 billion for the quarter. And two of HP's historic weak spots—PCs and software—showed impressive gains. The PC unit recorded revenue growth of 10%, while sales for the software unit grew 14% for the quarter. Says Hurd: "This was one of the most balanced financial performances we've delivered in a long time."

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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