HP REPORTED its third quarter results Tuesday after the US stock markets closed, slightly exceeding analysts' forecasts to post revenues of $28 billion, up 10 per cent from the same quarter last year, and profit of $2.5 billion, a 20 per cent quarterly increase year over year.
Most of HP's sales growth came from Europe, Middle East and Africa (EMEA), which rose 16 per cent to $11.2 billion, and Asia Pacific, up 14 per cent to $5.2 billion. HP's sales in the Americas grew only 4 per cent to $11.6 billion. After adjusting for currency exchange rates, revenue grew 3 per cent in the Americas, 5 per cent in EMEA and 8 per cent in Asia Pacific. Overseas sales in EMEA and Asia Pacific account for 60 per cent of HP's overall revenues.
Blade servers were HP's hottest product group, up 66 per cent, followed by storage, up 16 per cent, and personal computers, up 15 per cent. Notebooks led PC sales, up 26 per cent, while desktop sales increased 6 per cent. Printers were down 2 per cent in the quarter, year over year, but printer supplies were up 11 per cent. Printing is 25 per cent of HP revenues.
HP said its quarterly earnings per share were 80 cents, up from 66 cents in last year's Q3. µ
Sign up for INQbot – a weekly roundup of the best from the INQ