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HP Operating Profit Jumps

8/20/2010 10:14:30 AM Eastern

Charlotte, N.C. - Hewlett-Packard managed some positive news
today posting a 5 percent GAAP operating profit of $2.3 billion for its third
quarter.

The profit was made on third quarter sales of $30.7 billion, up
11.4 percent. The quarter ended July 31.

Earlier this month HP announced the
firing of CEO Mark Hurd due to a sexual harassment suit that was brought
against the company by a former contract worker. Hurd has been replaced on an
interim basis by Cathie Lesjak, HP's CFO.

HP's Personal Systems Group, which handles computer sales, had a
12 percent increase in unit shipments for the period with notebook revenue
climbing 10 percent while desktop revenue jumped 27 percent.

Sales for the Imaging and Printing Group were up 9 percent to
$6.2 billion. Sales of supplies rose 5 percent and consumer imaging and
printing product revenue was up 4 percent, the company reported.

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