HP Q4 revenues up 16pc

17 Aug 2007

Technology giant HP has reported revenues of US$25.4bn, up US$3.5bn on the same time last year, which CEO Mark Hurd outlines is the best revenue performance at the company since 2000.

Much of the growth came out of the company’s Personal Systems Group, which grew revenues 29pc on the year to US$8.9bn.

HP reported an operating profit of US$2.1bn and earnings per share of 66 cents, up from 48 cents a year ago.

HP’s Printing and Imaging business grew 8pc to US$6.8bn while its Enterprise Storage and Servers division grew revenues by 10pc to US$4.5bn.

HP Services grew 8pc to US$4.2bn while HP’s Software division grew 74pc to US$554bn.

The company’s Financial Services operation grew 12pc to US$582m and overall HP generated US$1.9bn in cash flow from operations.

The company said that looking ahead to the fourth quarter revenues would be between US$27bn and US$27.2bn.

“HP’s latest results demonstrate continued strength across each of our key businesses and geographies with our best revenue growth since 2000,” said Mark Hurd, HP chairman and chief executive officer.

“We are executing increasingly well in creating demand for our innovative products and services, and we are continuing to become a more efficient organisation,” he added.

By John Kennedy