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HP Reports Q3 Results

August 24, 2010

HP announced its financial results for its third fiscal quarter ended July 31 which saw the company's revenues grow more than 11 percent from the same period a year prior.

"The broad-based strength of HP's Q3 performance further demonstrates the power of our strategy and the discipline of our execution," said Cathie Lesjak, HP chief financial officer and interim chief executive officer. "We raised our full-year outlook and are continuing to build momentum in driving out costs, investing for profitable growth and capitalizing on HP's competitive advantages in the marketplace."

HP's Imaging and Printing Group (IPG) saw revenue increase 9 percent to US$6.2 billion, with supplies revenue up 5 percent and Commercial hardware revenue up 28 percent. Operating profit for the Group was US$1 billion.

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