HP net revenue up 11 p.c. in Q2

HP net revenue up 11 p.c. in Q2

Strong sales in emerging markets boosted company’s earnings

Thursday, May 22, 2008

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BANGALORE, INDIA: HP's net revenue surged 11 per cent to $28.3 billion in its second quarter ended April 30, 2008.

GAAP operating profit was $2.6 billion and GAAP diluted earnings per share (EPS) was $0.80, up from $0.65 in the year-ago period.

Strong sales in emerging markets boosted the company's earnings to $2.2bn, or 87 cents a share, up 24 per cent from a year earlier.

Non-GAAP operating profit was $2.8 billion, with non-GAAP diluted EPS of $0.87 up from $0.70 in the prior-year period.

Non-GAAP financial information excludes $172 million of adjustments on an after-tax basis, or $0.07 per diluted share, related primarily to amortization of purchased intangibles.

"HP turned in another strong quarter, supported by improvement across our businesses. With 70 per cent of revenue now coming from outside the US, we benefited from robust demand in emerging economies," said Mark Hurd, chairman and CEO.

©CyberMedia News

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