HP Fends Off Critics
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Hewlett-Packard (HPQ:NYSE - news - research) bested expectations on earnings and revenue for its fourth quarter, the company said after the bell Tuesday.
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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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InfoWorld - At TechXNY this week, Hewlett-Packard reminded business users that it is still an active innovator in printers and imaging devices.
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Blog: HP releases a bunch of new printers for home and office users.
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An executive said laptop sales are on track, despite a report that HP is reigning in PC orders.
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Hewlett-Packard Co.HPQ.N on  Wednesday posted a quarterly profit that rose slightly, helped  by gains across all of its businesses.
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Hewlett-Packard said Tuesday that quarterly profit topped its own lowered expectations as the computer and printer maker saw record revenues in every business and every region.
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Bad reviews won't hurt Vista. Neither will the Mac. Or Linux.
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Hewlett-Packard's decision to combine its PC and printing businesses makes sense.
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Hewlett-Packard Co. delivered a fiscal first-quarter profit above analyst expectations and brightened its outlook for the rest of the year, providing a ray of high-tech hope amid the gathering economic gloom.
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Hewlett-Packard reported solid financial results for its fiscal first quarter, driven by growth in PCs and enterprise hardware. The results prompted HP to raise its forecast for the year ahead.Revenue for the quarter, which ended Jan. 31, was $28.5 billion, up 13 percent from a year earlier, HP announced Tuesday. Pro forma net income was $2.3 billion, or $0.86 per share, up from $1.8 billion, or $0.65 per share, a year earlier.The figures beat the expectations of financial analysts, who had forecast revenue of $27.6 billion and pro forma earnings per share of $0.81, according to Thomson First Call. The pro forma figure excludes one-time items that slightly inflated the results. Using generally accepted accounting principles, HP&#39;s profit was $2.1 billion, or $0.80 per share.HP&#39;s Personal Systems Group, which produces its laptop and desktop PCs, grew its revenue 24 percent from the same period a year earlier, to $10.8 billion, with unit shipments up 27 percent. Notebook sales climbed fastest, up 37 percent, while desktop sales climbed 15 percent.The division had already been doing well. HP extended its lead over Dell in PC sales last year, according to figures from Gartner. HP ended the year with 18.2 percent of the market, compared with 14.3 percent for Dell. The PC market overall grew 13.4 percent.HP may find it hard to sustain that growth rate, in part because it has to make comparisons with increasingly successful quarters in the year before, CEO Mark Hurd said on a conference call. Still, Hurd said, &quot;when you look at 24 percent growth, I think that&#39;s pretty darned strong.&quot;HP&#39;s imaging and printing group performed slightly less well, with revenue climbing 4 percent to $7.3 billion. Printer unit sales declined by 1 percent from a year earlier, thanks to weakness in the consumer market. Revenue from supplies, which includes HP&#39;s profitable ink business, climbed 6 percent, however.Revenue from the servers and storage group climbed 9 percent to $4.8 billion. Sales of blades and industry-standard servers were strong, while HP&#39;s PA-RISC and Alpha chip businesses continued to shrink. Services revenue climbed 11 percent year-over-year to $4.4 billion, while software sales climbed 11 percent to $666 million, HP said.Hurd said he was pleased with the results overall. He attributed them to successful cost-cutting efforts, the addition of 2,000 new HP sales staff in the past year, and a diverse product portfolio.HP generates an increasing amount of its business overseas, he said. Its biggest market continued to be Europe, the Middle East and Africa, where revenue grew 15 percent to $12.3 billion. Asia-Pacific revenue climbed 22 percent to $4.9 billion. Growth in the Americas was a sluggish 8 percent, generating $11.2 billion.&quot;We generated 69 percent of our revenue outside the U.S., with emerging markets driving significant growth,&quot; Hurd said.The company now expects second-quarter revenue of $27.7 billion to $27.9 billion, and pro forma earnings per share of $0.83 or $0.84. That&#39;s above what analysts polled by Thomson had been estimating: pro forma profit of $0.82 and revenue of $27.4 billion.
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At TechXNY this week, Hewlett-Packard reminded business users that it is still an active innovator in printers and imaging devices.
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Microsoft says update improves setup and overall usability. HP had said it was waiting for the update before it released its first product using the software.
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Hewlett-Packard Co.  said  on Tuesday quarterly profit rose 26 percent, helped by strong  performances in its printer and personal computing businesses.
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Although operating margins at Hewlett-Packard are improving, they still are below peer levels.
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Hewlett-Packard is beefing up its Integrity BladeSystems with a new model released this week thatâs intended to handle memory and CPU intensive applications.
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By JORDAN ROBERTSON  SAN JOSE, Calif. - Investors have largely shrugged off Hewlett-Packard Co.'s boardroom spying scandal, dismissing the brouhaha surrounding the company as immaterial to its day-to-day operations and stellar earnings growth in recent months.