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.