HP’s financial results for its first fiscal quarter (ended January 31), included a 4% revenue increase in its Imaging and Printing Group, relative to the year-ago quarter. Company-wide first quarter net revenues increased by 8%, reaching US$31.2 billion.
“HP is well-positioned to outperform the market,” stated Mark Hurd, HP CEO, in a press release. “The strength of our portfolio, leaner cost structure and accelerating market momentum give us the confidence to raise our full-year outlook.”
First quarter revenue was up 9% in the Americas to US$13.6 billion. Revenue was up 1% in Europe, the Middle East and Africa and 26% in Asia Pacific to US$12.1 billion and US$5.4 billion, respectively. Revenue from outside of the United States in the first quarter accounted for 65% of total HP revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) increasing 41% over the prior-year period while accounting for 10% of total HP revenue.
The company’s first quarter of 2010 received a boost from its Enterprise Storage and Servers division, which reported total revenue of US$4.4 billion, up 11%.
Within the Imaging and Printing Group, “Supplies” revenue was up 1%, while commercial and consumer hardware revenue increased 4% and 21%, respectively. Printer unit shipments increased 16%, with commercial printer hardware units up 11% and consumer printer hardware units up 18%.
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