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HP Q1 profit up by 4 percent
By siliconindia
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Wednesday, 23 February 2011, 20:05 IST
Silicon Valley: Hewlett Packard booked profit for their first quarter. The company announced a net income of $2.6 billion compared to $2.3 billion which was the net income of the same period in the previous year. The earnings per share increased by $1.17 a share. The net revenue of the company increased to $32.3 billion compared to the companys year-ago quarter's $31.2 billion. The net profit increased by 4 percent for this quarter. But it is a decrease compared to the first quarter of 2010 which went up by 8 percent.
HP Americas revenue was up by 6 percent, Asia Pacific was up by 7 percent but regions in Europe, Middle East and Africa went flat with no revenue. When adjusted to the respective. Revenue outside U.S. accounted 65 percent of total HP revenue for the first quarter. The BRIC countries contributed about 11 percent of total HP revenue.
For the second quarter of fiscal 2011, HP estimates revenue of approximately $31.4 billion to $31.6 billion, with earnings in the range of 99 cents to $1.01 a share.
