Hewlett-Packard Profit Jumps 28%

Posted: November 23, 2007 in Tech

Hewlett-Packard reported a fourth quarter net profits of $2.16 billion dollars, up 28 per cent from the $1.69 billion of the year-ago quarter.

According to the HP statement, the results were bolstered by strong demand for laptop sales and highly profitable printer ink.

Personal Systems Group (PSG) revenue grew 30% year over year to $10.1 billion, with unit shipments up 31% on a year-over-year basis. This fiscal year, PSG grew $7.2 billion in revenue. Notebook revenue for the quarter grew 49% over the prior-year period, while desktop revenue grew 15%. Commercial client revenue grew 24% year over year, while Consumer client revenue increased 40%. PSG had exceptional growth in emerging markets with more than 100% growth in China, its third-largest market.

Meanwhile, HP’s software business doubled in revenue, reaching $698 million. Software sales got a boost from the company’s acquisitions, including Mercury Interactive. Enterprise Storage and Servers (ESS) reported revenue of $5.2 billion, up 10% over the prior-year period.

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