HP Posts Positive 4Q Results

By Chris DiMarco November 22, 2010

HP released results today from its 4Q which ended October 31st, 2010 indicating $33.3 billion net revenue, 8% larger than the prior-year period. The results were encouraging even after a slight negative currency impact of about 1%.  In 4Q, GAAP diluted earnings per share were $1.10, up 11% from $0.99 in the prior-year period.

"HP proved once again that it is able to execute given its market strengths and technology leadership," said Léo Apotheker, HP president and chief executive officer. "I have seen firsthand that we have talented people who are focused on delivering value for our customers. Our market opportunity is vast, and I am confident that we will extend our leadership into the future."

HP’s personal computing section saw revenue increase 4% to 10.3 billion in the fourth quarter, with printing and imaging revenue jumping 8% to $7 billion in the same time frame and HP’s financial services revenue up 11% to $809 million.  Software revenues were up 1% to 974 million HP kept the global lead in the personal computing market with a 2% increase in the number of units shipped.

"HP continued to execute in the fourth quarter, delivering growth, expanding margins and increasing earnings per share double digits," said Cathie Lesjak, HP executive vice president and chief financial officer. "We continue to invest in the business, in sales and in R&D, while driving further efficiencies."

The positive 4Q postings from HP could show that the market is finally headed in the right direction, with costumers more willing to buy at a retail level and enterprises more willing to invest at a corporate level.  

Chris DiMarco is a Web Editor for TechZone360. He holds a master's degree in journalism from Quinnipiac University. Prior to joining TMC Chris worked with e-commerce provider Suresource as a contact center representative and development analyst. To read more of his articles, please visit his columnist page.

Edited by Chris DiMarco

TechZone360 Web Editor

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