Hewlett-Packard turns in profit

Hewlett-Packard has reported first-quarter net income of $936m (£495m).

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Hewlett-Packard has reported first-quarter net income of  $936m (£495m).

Excluding special items such as restructuring costs and acquisition charges, HP posted an operating profit of $1.4bn. Revenue for the quarter, which ended 31 January, totalled $19.5bn, slightly above analysts' estimates of $19.4bn. Revenue grew about 9% from the same quartrer the previous year.

HP's Enterprise Systems unit, which makes products including storage and servers for large enterprises, turned itself around in the quarter from a loss the same period the previous year. The unit posted an operating profit of $108m.

Revenue from both desktop and server PCs boosted the personal systems division, and the Imaging and printing business posted record revenue.

Stephen Lawson writes for IDG News Service

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