Hewlett-Packard (HP) on Monday reported a solid fourth quarter on strong laptop sales, taking net profit for the full fiscal year to US$8.3 billion, an increase of 15 percent over the previous year.
The world’s largest technology company reported net profit in the quarter which ended on Oct. 31 of US$2.1 billion, down 2 percent on the same quarter the previous year.
Revenue for the fourth quarter rose 19 percent to US$33.6 billion taking revenue for the full 2008 fiscal year to US$118.4 billion, up 13 percent on the previous year.
HP, the world’s second-largest personal computer manufacturer, announced last week that earnings per share were US$1.03 in the fourth quarter, higher than the US$1 expected by analysts.
Hewlett Packard said it expected earnings per share of between US$0.93 and US$0.95 during the current quarter, the first of the 2009 fiscal year, better than the US$0.91 forecast by analysts.
“These results demonstrate our ability to execute in a challenging market,” chairman and chief executive Mark Hurd said in a conference call with analysts. “I am confident in HP’s ability to gain share, expand earnings, and emerge from the current environment as a stronger force in the marketplace.”
HP said revenue grew 17 percent in the Americas in the fourth quarter, 22 percent in Europe, the Middle East and Africa and 14 percent in Asia Pacific to US$14 billion, US$14.1 billion and US$5.5 billion respectively.
HP said revenue from laptop computers grew a healthy 21 percent in the fourth quarter while desktop revenue declined 2 percent.
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