Feeds

HP makes things personal again in Q3

Computers and currency do their thing

Boost IT visibility and business value

In a world of financial doom and gloom, sales of PCs are offering a glimmer of light. Don't believe us? Just look at Hewlett-Packard, which on Tuesday reported a third-quarter profit that beat Wall Street expectations and forecast healthy sales in the current period.

The chief driver for HP's success were sales of PCs, which rose 15 per cent. Notebook sales were particularly helpful, but HP also saw revenue from services jump 14 per cent and sales of printers and ink rise by 3.4 per cent.

HP also benefited from the weak US dollar, which generated highly favorable currency translations for international sales.

Third-quarter net income increased 14 per cent to $2.03bn, or 80 cents a share, from $1.78bn, or 66 cents, in the year-ago period. Profit after acquisition costs and other one-time expenses was 86 cents, three cents higher than the average analyst estimate. Sales rose 10 per cent to $28bn, though when adjusted for currency fluctuations, revenue increased only 5 per cent.

HP shares rose 2 per cent in after-hours trading, following the release of financial results.

HP isn't the only company enjoying growth in a challenging market. Last month, Apple broke revenue records thanks to bumper sales of Macs and iPhones. And in May, Dell posted strong results and for the first time said the majority of its revenue came from overseas customers.

Not everything in the HP report was hunky dory. Gross margins, the percentage of sales left after manufacturing costs, fell slightly from a year ago to 24.2 per cent. Higher costs of computer components and demand for cheaper machines helped contribute to the decline.

HP's earnings report is here. ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Gartner critical capabilities for enterprise endpoint backup
Learn why inSync received the highest overall rating from Druva and is the top choice for the mobile workforce.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.