HP announces great fiscal Q1 2005 earnings

Posted on Thursday, February 17 2005 @ 19:51 CET by Thomas De Maesschalck

Hewlett Packard unveiled increased earnings for the first fiscal quarter ending January 31. The company stated that all of its businesses experienced a grow in sales during fiscal Q1.

PC unit sales for instance rose with 12 percent compared to last year, resulting in a operating profit margin increase of 2.1 percent.

Net income rose to $943 million or 32 cents a share, from $936 million, or 30 cents a share, a year earlier. Revenues rose to $21.5bn from $19.5bn a year earlier. Profit excluding special items was at 37 cents a share as compared with 35 cents a share a year earlier.

Wall Street analysts had expected the company to earn on average 36 cents a share, within a range of 32 cents to 39 cents, on revenue of $20.96 billion.

More details at EarthTimes

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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