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HP profit up 14 percent - strong notebook sales

Posted on Wednesday, August 20 2008 @ 22:31:47 CEST by

HP announced better than expected quarterly results on Tuesday. World's biggest PC shipper announced a revenue of around $28 billion with 14 percent higher net profit than a year ago. Sales of desktops were up six percent while notebook sales jumped 26 percent.
Net profit was up to just over $2 billion, which represented a rise of 14 percent on the same quarter last year. This was all the more impressive given that net revenue only rose by ten percent, implying HP is also getting more efficient.

"By accelerating our enterprise growth and executing well across the portfolio, HP delivered a strong third quarter performance," said Mark Hurd, HP chairman and CEO. "Our global position, broad product and services offerings and incremental cost saving opportunities make us confident that we'll continue to meaningfully expand earnings."

Overall revenues were around $28 billion, of which only $11.6 billion were from North America. The EMEA region showed revenue growth of 16 percent, Asia Pacific grew by 14 percent and the BRIC (Brazil, Russia, India and China) countries grew by 24 percent to represent ten percent of overall revenues.



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