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HP Profit Beats Expectations As PC Sales Jump 12 Percent

HP, which houses the hardware business of the former Hewlett-Packard Co, has reported a slightly higher-than-expected quarterly profit as it sold more personal computers.

Revenue from HP’s personal systems unit, which sells notebooks, desktops and workstations, rose 12 percent to US$8.40 billion in the company’s third quarter ended July 31. Notebook sales increased 16.4 percent, offsetting a dip in desktop sales.

The company, which bought Samsung’s printer business last September, said revenue from its printer and copier division rose 6.2 percent to $4.70 billion in the latest quarter.

Total revenue rose 10 percent to $13.1 billion, but net earnings from continuing operations fell from $843 million to $696 million.

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