HP has strong PC, software sales, but Q2 profit dips

Hewlett-Packard's net profit declined but sales growth was strong in software and PCs in second quarter financial results out Wednesday.

Helped by double-digit sales growth in PCs and software from its Mercury Interactive acquisition, Hewlett-Packard reported a 27 percent increase in operating profit on a 13 percent rise in revenue in fiscal second quarter financial results released Wednesday. But net profit slipped by 7 percent from the same quarter last year.

HP reported net income of US$1.8 billion, or US$0.65 a share, on revenue of US$25.5 billion, for the three months that ended April 30, compared to net profit of US$1.9 billion, or US$0.66 a share on revenue of US$22.55 billion in the second quarter of 2006. Operating profit came in at US$2.1 billion.

Net profit from the same quarter last year was affected by a favorable tax ruling by the U.S. Internal Revenue Service that added US$0.15 cents to HP's earnings per share.

Revenue for its Personal Systems Group rose 24 percent to US$8.7 billion, including notebook computer sales growth of 45 percent, for the most recent quarter reported.

The HP Software Group had revenue growth of 54 percent to US$523 million. HP didn't own Mercury in the second quarter of last year.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Robert Mullins

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?