Feeds

Everything still fine and dandy with HP in Q4

On the up and up and up

Choosing a cloud hosting partner with confidence

Ongoing cost-cutting measures at Hewlett-Packard continue to make their quarterly earnings a cheerful affair for stockholders — although probably not for the 15,000 former employees sacrificed since 2005 to buoy profits.

The largest PC vendor's fourth quarter results beat analyst expectations today, and the company offered a solid outlook for the next quarter.

"We are effectively balancing our growth, investments and cost reduction initiatives" said CEO Mark Hurd during an investor conference call today. "While our fourth quarter results showed marked improvement, we still have work to do and investments to make."

Net revenue for the quarter was $28.3bn, up 15 per cent from $24.6bn a year earlier. Analysts were expecting revenue to land around $27.5bn.

Meanwhile, the Q4 operating profit was up 38 per cent year-over-year to $2.6bn.

"Strong performance across our businesses was highlighted by sharp improvements in our software segment," elaborated Hurd.

HP software revenue doubled over the prior-year period to $698m. The company said growth was led by the businesses acquired in their purchase of Mercury Interactive last year.

Notebook revenue grew 49 per cent year-over year to $5.16bn. Desktop revenue made a smaller jump of 15 per cent from last year to $4.2bn.

HP's server biz grew 10 per cent year-over-year to $5.2bn. Sales of x86 systems increased 14 per cent, while x86 blade revenue leaped 78 per cent. Storage revenue grew 7 per cent.

The imaging and printing group revenue grew 4 per cent year-over-year to $7.6bn (or about the cost of five ink cartridges). HP relies heavily on the printing biz, which makes up around 29 per cent of sales.

HP estimates Q1 '08 revenue will be approximately $27.4bn to $27.5bn. The company also announced its board of directors have authorized an additional $8bn for future repurchase of shares of HP common stock. ®

Security for virtualized datacentres

More from The Register

next story
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
NATO declares WAR on Google Glass, mounts attack alongside MPAA
Yes, the National Association of Theater Owners is quite upset
Inside the EYE of the TORnado: From Navy spooks to Silk Road
It's hard enough to peel the onion, are you hard enough to eat the core?
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.