HP posted a 30% increase in net profits for the first
quarter ended 31 January. Net profit increased to $1.2bn (£705m)
from the same period the previous year. Sales were up 6% to
$22.7bn.
HP chief executive officer Mark Hurd said, “We made progress
towards creating a stronger company that better serves its
customers.”
Sales from HP’s services group fell, which Hurd said was the
result of the company focusing on contracts that paid the best
margins.
Sales rose 8% in both HP's PC group and its printer group. The
server group saw sales climb 5%. Laptop sales jumped 26%.
HP has so far cut 6,500 employees from its total group
headcount, since last summer’s announcement of plans to remove
14,500 from its payroll.
