HP results shrug off scandal

HP made revenues of $24.6bn in the fourth quarter ended 31 October 2006 – up seven per cent on the same period last year.

GAAP operating income was $1.7bn, up from $0.4bn last year, giving earnings per share of 0.68 cents.

CEO and chairman Mark Hurd welcomed the results and said they were evidence of the success of the company’s restructure: "We are well on our way to building a more competitive HP that creates further value for our shareholders”

Personal Systems Group grew revenues ten per cent to $7.8bn and unit shipments grew 16 per cent, making an operating profit of $336m. Imaging and printing revenues were $7.3bn, an increase of seven per cent,which produced a profit of $1.1bn.

HP’s Enterprise Storage and Servers division brought in $4.7bn, up four per cent on last year, and made an operating profit was $502m. HP Services made revenues of $4.1bn – up five per cent, and made a profit of $505m.

HP’s Software division made $349m, an increase of 14 per cent on last year. Operating profit was $60m. HP Financial services made $545m and a profit of $35m.

For first financial quarter of 2007 HP expects revenues of between $24.1bn and $24.3bn and earnings per share of between 55 and 57 cents.®