HP posts 6% increase

23 May 2007

Business

HP has posted improved results for the second quarter of the year with a boost in revenues for its imaging and printing division.

Over the period, revenue grew by 6% to £3.6bn ($7.2bn) while revenue for commercial printer units improved by 21%. An increase of 10% was posted for supplies revenues and printer unit shipments increased 11% year on year.

HP’s net revenue was up 13% to £12.9bn with operating profits of £1.1bn, up 30% on the same period last year.

HP chairman and chief executive Mark Hurd said: “This was a strong performance for HP. We generated $3bn (£1.5bn) of revenue growth, continued to expand earnings and achieved record cash flow from operations.”

HP Q2 RESULTS
• Overall net revenue: £12.9bn, up 13%
• Overall operating profits: £1.1bn, up 30%
• Imaging and printing revenue: £3.6bn, up 6%
• Revenue for commercial printer units up 21%

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