Written by: Press Trust of India
2 min readNew YorkNov 24, 2010 03:54 AM IST
First published on: Nov 24, 2010 at 03:54 AM IST
Technology giant Hewlett-Packard HP has reported 5 per cent growth in net earnings to 2.53 billion for the quarter ended October 31,on the back of robust sales of server and storage business and strong performance in emerging markets,including India.
In the year-ago period,the company had a net earning of 2.42 billion,HP said in a statement. The companys net revenue rose to 33.27 billion in the fourth quarter ended October 31 from 30.77 billion in the same quarter of last fiscal,clocking a gain of eight per cent. The company has attributed its decent quarter numbers to demand in PC,server and storage business and good performance in BRIC Brazil,Russia,India and China countries.
HP continued to execute in the fourth quarter,delivering growth,expanding margins and increasing earnings per share in double digits. We continue to invest in the business,in sales and in Ramp;D,while driving further efficiencies, HP executive vice-president and CFO Cathie Lesjak said.
During the quarter,BRIC countries have emerged as the best performer with revenue increasing by 12 per cent and accounting 10 per cent of the overall companys revenue. While revenue from Asia Pacific operations swelled by eight per cent to 5.8 billion,revenues rose by 10 per cent in the Americas to 15.1 billion and it surged 6 per cent in Europe,the Middle East and Africa to 12.4 billion. Looking ahead,the company said it has raised its revenue forecast to 126 billion for the full fiscal year 2010. HP said its revenue from Enterprise Storage and Servers ESS reported total revenue of 5.3 billion in the fourth quarter,up 25 per cent from year-earlier.
Share
