HP reports first-quarter increase of 9%

Hewlett-Packard is expected to report $19.5bn in revenue for its first financial quarter.

The company updated its financial expectations ahead of its earnings announcement due next week.

HP had expected to record first-quarter revenue between $19.1bn and $19.5bn when it reported fourth-quarter results in November.

Analysts had expected HP to record $19.4bn in revenue.

First-quarter 2004 revenue will come in 9% higher than the $17.9bn recorded in the first quarter of 2003.

Tom Krazit writes for IDG News Service