Hewlett-Packard Co, the world's largest
computer maker, reported a 16-per-cent increase in profits on Tuesday
for the three months through January, the first quarter of the
company's budget year.
Profits were up to 2.6 billion dollars, or 1.17 dollars per share, compared to 2.25 billion dollars, or 93 cents per share, for the November-January quarter a year earlier.
HP sales rose to 32.3 billion dollars for the quarter. The company reported strong business sales, while consumer spending on computer equipment has been less robust, weighing on expectations for the rest of 2011.
Newly installed HP chief executive Leo Apotheker is due to brief Wall Street analysts on his strategic vision for the company on March 14.
Most Popular Stories
- Small Businesses Could Get Paid Faster
- Downside of Low Mortgage Rates: Less Selling
- Correction: North Dakota Saltwater Spill Story
- Economists Sharply Cut Forecasts for U.S. Growth
- Challenger Raises Bar on Muscle Cars
- Reynolds, Lorillard in Merger Talks
- Bundy Ranch Standoff Has Spurred Radical Right
- NHTSA Probes Ford Steering Problems
- House Votes to Make Bonus Depreciation Permanent
- Liverpool Sells Luis Suarez to Barcelona