Enterprise spending boosts HP sales by 8% in Q4

Hewlett-Packard has reported an 8% increase...

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Hewlett-Packard has reported an 8% increase in overall sales in the fourth quarter of 2010 after 25% growth in enterprise storage and servers revenue.

In the first financial results announcement since the appointment of Léo Apotheker as CEO, HP reported a rise in sales from $30.8bn (£19.3bn) in the same period last year to $33.3bn (£20.9bn) in the fourth quarter. Profit also rose 5% in the period ending 31 October, to $2.5bn (£1.6bn).

HP said sales of enterprise storage and servers grew 25% to $5.3bn (£3.3bn) in the fourth quarter.

"HP proved once again that it is able to execute given its market strengths and technology leadership," said Apotheker, HP president and CEO.

"I have seen first-hand that we have talented people who are focused on delivering value for our customers. Our market opportunity is vast, and I am confident that we will extend our leadership into the future," he added.

Industry-standard server sales increased 32%, while storage sales increased 14% and business critical systems sales grew 10%.

Despite a slight decline in PC shipments during Q3, Gartner recently reported that HP retained the top worldwide position with 18% market share. Acer followed with 13% and Dell with 12%.



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