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Foreign sales boost HP earnings Foreign sales boost HP earnings
(about 11 hours later)
Hewlett-Packard (HP), the world's largest computer computer, has seen its quarterly profits boosted by robust international sales. Hewlett-Packard (HP), the world's largest computer company, has seen its quarterly profits boosted by robust international sales.
The firm saw profits for the three months to 31 July reach $2.5bn (£1.3bn), up from $1.78bn in the same period a year earlier.The firm saw profits for the three months to 31 July reach $2.5bn (£1.3bn), up from $1.78bn in the same period a year earlier.
Revenue from outside the US accounted for some 68% of the total, with particular strength in Asia.Revenue from outside the US accounted for some 68% of the total, with particular strength in Asia.
Computer firms have targeted overseas markets as the US economy has cooled.Computer firms have targeted overseas markets as the US economy has cooled.
Lou Miscioscia of Cowen said: "Many had expressed concerns that HP's results were going to start to be affected by the economy, but HP had solid numbers."Lou Miscioscia of Cowen said: "Many had expressed concerns that HP's results were going to start to be affected by the economy, but HP had solid numbers."
Europe, Middle East and Africa saw revenue climb 5%, while revenue in Asia Pacific was 8% higher.Europe, Middle East and Africa saw revenue climb 5%, while revenue in Asia Pacific was 8% higher.
The Americas saw revenue up 3%.The Americas saw revenue up 3%.
The personal systems group saw revenue of $10.3bn, marking a rise of 15% and revenue from notebooks was 26% higher year-on-year.The personal systems group saw revenue of $10.3bn, marking a rise of 15% and revenue from notebooks was 26% higher year-on-year.
Jason Pride of Haverford Trust said HP seemed to be "a standout".Jason Pride of Haverford Trust said HP seemed to be "a standout".
"The only other company that has a similar ability to stand out is IBM, but that's a very different story, a story of transitioning to a more service-oriented approach."The only other company that has a similar ability to stand out is IBM, but that's a very different story, a story of transitioning to a more service-oriented approach.
"But HP is still primarily a hardware provider, and in that space, they are absolutely a standout.""But HP is still primarily a hardware provider, and in that space, they are absolutely a standout."