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HP Computer Revenue, Unit Sales Up In Quarter

5/16/2006 03:57:00 PM Eastern

Palo Alto, Calif. — Hewlett-Packard’s personal systems group (PSG) revenue grew 10 percent to $7 billion for the second fiscal quarter, ended April 30, with unit shipments up 16 percent vs. the same time last year.

On a year-over-year basis, desktop revenue increased 1 percent and notebook revenue grew 27 percent. Consumer client revenue increased 24 percent and overall operating profit for PSG was $248 million, or 3.6 percent of revenue, up from a profit of $147 million, or 2.3 percent of revenue, in the prior year period.

For the imaging and printing group, revenue grew 5 percent year-over-year to $6.7 billion. On a year-over-year basis, supplies revenue grew 10 percent and consumer hardware revenue declined 8 percent. Momentum in key growth initiatives continued, with color laser printer shipments and printer-based MFP shipments up 38 percent and 44 percent year-over-year, respectively.

HP’s net revenue for the entire company was $22.6 billion for the quarter, up 5 percent year-over-year, or 8 percent when adjusted for the effects of currency, and the operating profit was $1.7 billion. During the quarter, on a year-over-year basis, HP’s overall revenue in the Americas grew 10 percent to $9.7 billion, the company reported.

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