HP’s second-quarter profit rises 16 percent
Hewlett-Packard issued a glowing financial report for its second quarter Tuesday, with profit buoyed by strong international growth and a significant bump in sales of laptop computers, outweighing flat results for desktop PCs.
With 70 percent of revenue coming from outside the United States, HP Chief Executive Mark Hurd said, “The company’s financial outlook demonstrates its strength in the global marketplace.”
The world’s leading computer maker reported $28.3 billion in revenue for the quarter ending April 30, up 11 percent from the same period last year. That resulted in a net profit of $2.06 billion, or 80 cents a share, an increase of 16 percent.
HP previewed those figures last week but provided more details Tuesday, when it reported that revenue in the Western Hemisphere grew only 4 percent for the quarter, compared with 16 percent in Europe, the Middle East, Africa and Asia.
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