HP Profit Rises On Server, PC Business

Hewlett-Packard reported a first-quarter net income of $962 million, a 33 percent increase from the year-ago period, as sales of its servers, printers and PCs grew.

Revenue for the quarter, ended Jan. 31, increased 9 percent from $17.9 billion to $19.5 billion, HP said. The revenue and earnings matched what HP had predicted last week.

The Palo Alto, Calif.-based company had earnings of 30 cents per share, according to Generally Accepted Accounting Principles. Excluding several one-time items, HP earned 35 cents per share, matching average expectations of analysts Thomson First Call surveyed.

Read the full story at ZDNet.

HP’s press release can be found here.