HP posts strong quarterly results

MAKER OF EXPENSIVE PRINTER INK HP announced its quarterly financial results Thursday and said that it will carry on with its winning business strategy after CEO Mark Hurd's resignation.

Reviewing the company's quarterly earnings, CFO and interim CEO Cathie Lesjak told analysts that HP doesn't expect to see much strategic change when the next chief executive is named.

"When you have a winning strategy, I don't see the motivation to change it, and that's what we've got here," Lesjak told reporters.

"This is a well thought-out strategy that is working very well for us."

HP posted quarterly revenues of $30.7 billion, an 11 per cent rise over the same period last year. Company revenues in Europe, Middle East and Africa were up 9 per cent, while the Americas saw a 12 per cent jump.

The company said that the strong performance was leading it to increase its full year revenue outlook.

The report comes as the company is looking to replace chief executive Mark Hurd, who was forced to step down amidst a sexual harassment lawsuit.

Lesjak said that the company had hired an outside firm to find a chief executive. In the meantime, she said that much of her own time these days is spent reassuring employees, investors and HP customers that the company is going to keep up growth over the transition.

"Mark Hurd left this organisation with an extremely strong and talented management team," said Lesjak.

"He left it in great shape, we are very well positioned." µ