Thursday, 18 February 2010
By Peter Lavelle
Electronics brand HP has encountered a resurgence in PC and printer sales, generating a 25% leap in net profit for 2010’s 1st fiscal quarter, which closed in January.
PC sales for Hewlett Packard rose 20% to $10.6bn, while printer shipments increased 16% - compared to the same period in 2009. The figures suggest the technology market is recovering, having fallen flat during the global recession.
Hewlett Packard reported net profits of $2.3bn for the first quarter – more than $0.4bn more than last year. Net revenue was up 8% from last year and totalled $31.2bn.
Given this, the company has raised its fiscal forecast for 2010, from $118bn revenue to $121.5bn.
Speaking in the press release, HP CEO Mark Hurd said: "The strength of our portfolio, leaner cost structure and accelerating market momentum give us the confidence to raise our full-year outlook.”
However, revenues were not up across all Hewlett Packard’s portfolio. The Services sector – largely responsible for bolstering HP’s finances in the recession – saw a 1% fall in revenue. Revenues at HP Software were stable at $878m.
Austine Modine, ‘HP’s PC and Printer Sales Back from the Depths,’ TheRegister.co.uk, 17 February 2010.
Antone Gonsalves, ‘HP Profits Jump 25%,’ InformationWeek.com, 18