HP raised the lower end of its full-year earnings outlook slightly, to
The company posted a 16 percent rise net earnings of
In the midst of a multi-year turnaround effort intended to revive growth through reduced reliance on personal computers for growth, HP reported 4 percent year on year rise in revenue in the personal computer segment, with a 3.3 percent rise in operating margin.
While commercial revenue increased 8 percent, the consumer revenue declined 3 percent.
Sales of computer units altogether rose 6 percent with Notebooks sales recording 5 percent growth while desktop sales dipped 3 percent.
Overall the first quarter non-GAAP diluted net earnings per share of
Shares of HP gained a penny to
The company statement issued Thursday revealed that the first quarter GAAP diluted net earnings per share of
Chief Executive Officer
"HP is in a stronger position today than we've been in quite some time. The progress we're making is reflected in growth across several parts of our portfolio, the growing strength of our balance sheet, and the strong support we're receiving from customers and channel partners," said Whitman.
"Innovation is igniting our comeback, and at a time when many of our competitors are confronting new challenges, two years of turnaround work is setting us up for an exciting future."
In an interview, Whitman told Reuters she was upbeat on their European business as the developed part of that region stabilized, and saw strength in emerging markets like
She added that HP's business in
"Pleased with the progress, more work to be done," Whitman summarized for Reuters.
Investors have been cautious on the outlook for computing companies after
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