Computer giant very HP with Q1 profits

The world's second-biggest maker of computers, Hewlett Packard, has reported first quarter profits of $936m (€740m), up 30% on a year earlier, after sales of PCs increased by 20% in three months ending January 31.

The company has estimated that second quarter sales will rise to $19.2bn (€15.1m), which is towards the top end of market estimates.

Hewlett Packard has recently focused on selling more products such as digital computers and printers, and the company's printer division now accounts for around 16% of total sales.

Hewlett Packard merged last year with Compaq and employs around 4,000 people in Ireland.