HP Q4 revenues rise 15pc to US$28.3bn

20 Nov 2007

The world’s largest technology manufacturer, HP, last night reported an operating profit of US$2.8bn on revenues of US$28.3bn, which were up US$3.7bn.

For the full year, HP revenues hit US$104.3bn, up 14pc or US$12bn on last year, which HP CEO and chairman Mark Hurd has attributed to strong growth across most of the company’s business units.

During the fourth quarter, revenue in Europe, the Middle East and Africa grew 19pc to US$11.6bn; the Americas were up 10pc to US$11.9bn; and revenue grew 20pc in Asia-Pacific to US$4.8bn.

In terms of HP’s various business divisions, the Personal Systems Group saw revenues rise 30pc year-on-year to over US$10.1bn, while in Imaging and Printing revenues rose 4pc to US$7.6bn.

The company’s Enterprise Storage and Servers group reported a 10pc boost to revenues of US$5.2bn, while HP Services grew 7pc on last year to US$4.4bn.

HP’s Software division doubled revenues to US$698m. This was largely due to HP’s acquisition of Mercury Interactive. HP’s Financial Services unit reported a 21pc increase in revenues to US$657m.

“Strong performance across our businesses was highlighted by a sharp improvement in our software segment,” said Hurd.

“We have added over US$12bn of new revenue this year. While we still have more work to do, HP is well positioned to make further progress in the marketplace.”

Looking ahead to the first quarter, HP estimates revenues will be in the range of US$27.4bn to US$27.5bn.

By John Kennedy