HP Operating Profit Jumps

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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


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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