Hardware sales drive revenues in Q2 for Hewlett-Packard

Hewlett-Packard highlighted the speed with which different parts of the industry are exiting recession delivering Q2 results showing healthy sales in the hardware side of its business but almost flat services revenues. Hardware sales for the quarter ended 30 April were driven by the Enterprise Stor

Hewlett-Packard highlighted the speed with which different parts of the industry are exiting recession delivering Q2 results showing healthy sales in the hardware side of its business but almost flat services revenues.

Hardware sales for the quarter ended 30 April were driven by the Enterprise Storage and Server revenues up 31% compared to the same period last year. Personal Systems increased by 21% and the imaging and printing group also saw sales rise by 8%.

But on the flipside services revenues only increased by 2% and HP Software revenues were down by 1% year-on-year and BPO sales were flat. Net revenue for Q2 of $30.8bn was an increase of 13% on a year before and non-GAAP operating profit rose by 22% to $3.5bn.

Revenue increased by 11% in EMEA with the emerging territories of Brazil, Russian, India and China delivering 25% growth and 10% of total revenue.

Mark Hurd, HP chairman and CEO, said that the numbers showed that growth across all regions had returned and it was optimistic about the rest of the fiscal year.

"We're winning in the marketplace, investing for the future and confident in the enormous opportunity that lies ahead," he said.

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