Market Updates
HP Profit up 29% on Computer Sales
Elena
17 Aug, 2007
New York City
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The company said its earnings jumped 29% to $1.78 billion, or 66 cents per share, higher from the $1.38 billion, or 48 cents per share a year ago. Excluding one-time charges, HP earned 71 cents per share, beating the average analyst estimate of 66 cents a share. The tech giant reported 16% sales increase, totaling $25.38 billion. The stock edged down 0.11% in pre-market trading.
[R]08:15AM Hewlett-Packard posted 29% earnings jump in Q3 on strong demand for PCs.[/R]
Hewlett-Packard Co. ((HPQ)) posted better-than-expected Q3 profit and sales, boosted by strong demand for personal computers and lucrative printer ink. The company said its earnings jumped 29% to $1.78 billion, or 66 cents per share, higher from the $1.38 billion, or 48 cents per share a year ago. Excluding one-time charges, HP earned 71 cents per share, beating the average analyst estimate of 66 cents a share.
The tech giant reported 16% sales increase, totaling $25.38 billion. Revenues were more than $1 billion higher than the $24.09 billion in sales expected by analysts. The biggest sales jump came within the company''s Personal Systems Group, which includes desktop and laptop computers. The stock edged down 0.11% in pre-market trading.
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