Hewlett-Packard Q1 Rises 26%
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Hewlett-Packard 1Q Profit Up 26 Percent
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(InfoWorld) - Hewlett-Packard topped Wall Street's revenue and earnings expectations in the first quarter of its 2007 fiscal year. HP posted net income of $1.5 billion, or $0.55 a share, in the quarter ended Jan. 31, 2007, compared to $1.2 billion, or $0.42 a share in the year ago quarter, the Palo Alto, California company said Tuesday. Excluding $279 million in adjustments on an after-tax basis, net income for HP (NYSE: HPQ) was $1.8 billion, or $0.65 a share, exceeding the consensus forecast for $0.62 per share from analysts polled by Thomson Financial. HP described the expenses as related primarily to the amortization of purchased intangibles and in-process research and development charges related to acquisitions. It also cited stock-based compensation expense in both current and prior years. Revenue came in at $25.1 billion, up 11 percent from last year's first quarter and above the $24.27 billion analyst forecast. Growth came from HP's personal systems group, which is desktop and laptop computers for consumers, with a 17 percent year-over-year revenue growth, and from imaging and printing, with 7 percent revenue growth. HP topped rival Dell as the leading seller of personal computers in 2006, according to IDC. At financially troubled Dell,Â former CEO and Chairman Michael Dell returned to the CEO office following the ouster of Kevin Rollins last month. "HP delivered a strong first quarter with improved margins and solid revenue growth across our businesses," said Mark Hurd, HP chairman and chief executive, in a statement.
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Hewlett-Packard Co  on  Tuesday reported higher-than-expected quarterly earnings and  forecast results ahead of Wall Street targets as it sold more  PCs and server computers, sending its shares up 6 percent.
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Release of a new Linux distribution and other software boost Red Hat's first quarter earnings.
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By George Chamberlin , Daily Transcript Financial Correspondent. Stock prices moved sharply higher Wednesday, pushed by a strong earnings report from Hewlett-Packard and a blockbuster deal in the retailing sector.
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Investor's Business Daily - A week after shaking up its enterprise hardware business following a poor showing last quarter, Hewlett-Packard put its best face forward before more than 7,000 customers and partners at the HP World conference in Chicago.
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The Hewlett-Packard Co said on Tuesday that its profits rose 27 percent in the fourth quarter as revenues reached record levels across its business lines.
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Shares of Network Appliance jumped more than 11 percent during Wednesday&#39;s trading after the storage maker reported a robust 38 percent rise in first quarter revenue.
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Microsoft Corp. said its fiscal first-quarter earnings rose 11 percent, beating analysts' expectations, as the company benefited from stronger-than-expected computer and server shipments.
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Stocks rose on Wednesday after news  of an $11.5 billion retailing deal and solid earnings from  computer maker Hewlett-Packard Co. HPQ.N, but a rise in oil  prices caused stocks to trim gains.
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InfoWorld - Hewlett-Packard has begun shipping a new product that the company thinks will give it an edge over rival IBM&#160;in the market for blade servers.
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Hewlett-Packard surged ahead in the PC market last year a new report confirms.
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SAN FRANCISCO: Hewlett-Packard Co said on Tuesday its quarterly profit rose 27% as the computer and printer maker saw record revenues in every business and every region and fixed problems with its server and storage unit, sending shares higher by 8%.
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By JORDAN ROBERTSON   Associated Press writer  SAN JOSE, Calif. -- Hewlett-Packard Co.
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Shares of Apple Computer Inc. (AAPL.O) rose to an almost four-year high on Thursday ahead of the launch of Hewlett-Packard Co.'s (HPQ.N) version of the iPod digital music player and Apple's revamped iMac computer.
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By JORDAN ROBERTSON  SAN FRANCISCO - Hewlett-Packard Co.'s first-quarter profit jumped 26 percent as the company benefited from higher sales of laptop computers, printers and printing supplies during a robust holiday spending season.
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Sales lull has ended IBM squeaked by Hewlett-Packard to maintain its top position in worldwide server revenue during the first quarter this year, according to a new report.â¦