HP sees profits increase by 26%
Net income increased to $1.55 billion, or 55 cents a share, from $1.23bn, or 42 cents, a year earlier, Palo Alto, California-based Hewlett-Packard said today in a statement. Sales in the quarter ended January 31 rose 11% to $25.1bn. Excluding some costs, profit was 65 cents, beating the 63 cents expected on average by analysts.
Chief executive Mark Hurd nabbed the PC market lead from Dell for the second straight quarter by offering low-priced notebook computers and selling them with help from retail partners. PC shipments jumped 24% last quarter while Dell’s dropped 8.4%, according to researcher IDC.
