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| Version 0 | Version 1 |
|---|---|
| Strong profits at Hewlett-Packard | Strong profits at Hewlett-Packard |
| (30 minutes later) | |
| Hewlett-Packard (HP) has reported better than expected quarterly results helped by strong international sales. | Hewlett-Packard (HP) has reported better than expected quarterly results helped by strong international sales. |
| Net income was $2.13bn (£1.09bn) in the three months to the end of January, up 38% on the previous year. | Net income was $2.13bn (£1.09bn) in the three months to the end of January, up 38% on the previous year. |
| HP was helped by strong sales outside the United States where it generates two-thirds of its revenue. | |
| There was concern that the slowing US economy would hit computer makers and shares in HP and its rivals Dell and Apple have fallen recently. | There was concern that the slowing US economy would hit computer makers and shares in HP and its rivals Dell and Apple have fallen recently. |
| But analysts say that HP is coping well and its shares rose 5% in after hours trading in New York. | But analysts say that HP is coping well and its shares rose 5% in after hours trading in New York. |
| "This positions the company well for 2008 and shows that they're able to execute even in a slowing economy." said Shannon Cross of Cross Research. | "This positions the company well for 2008 and shows that they're able to execute even in a slowing economy." said Shannon Cross of Cross Research. |
| Chief Executive Mark Hurd has been credited with reviving HP since taking control in early 2005. | Chief Executive Mark Hurd has been credited with reviving HP since taking control in early 2005. |
| He's been particularly successful at reducing costs. | He's been particularly successful at reducing costs. |
| "Our cost savings are significant and ongoing," he said on Tuesday. | "Our cost savings are significant and ongoing," he said on Tuesday. |