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HP Reports Strong Fiscal Q2 Results

Palo Alto, Calif.
– Hewlett-Packard posted double-digit gains in revenue and earnings during its
fiscal second quarter, ended April 30.

Net revenue was
$30.8 billion, up 13 percent year on year, with GAAP net earnings up 28 percent
to $2.2. billion and non-GAAP net earnings increasing 25 percent to $2.6

The personal
systems group (PSG) posted a 20 percent increase in unit shipments and
maintained the leading market share position in PCs worldwide, HP said.

PSG revenue
increased 21 percent to $10 billion. 
Notebook revenue for the quarter was up 17 percent, while desktop
revenue increased 27 percent. Commercial client revenue was up 19 percent,
while consumer client revenue increased 25 percent. Operating profit was $465
million, or 4.7 percent of revenue, up from $378 million, or 4.6 percent of
revenue, in the prior-year period.

Imaging and
printing group (IPG) revenue increased 8 percent to $6.4 billion. Supplies
revenue was up 6 percent, while commercial hardware revenue and consumer
hardware revenue increased 13 percent and 16 percent, respectively.

Printer unit
shipments increased 9 percent, with commercial printer hardware units down 8
percent and consumer printer hardware units up 15 percent. Operating profit was
$1.1 billion, or 17.2 percent of revenue vs. $1.1 billion, or 18.2 percent of
revenue, in the prior-year period.