HEWLETT-PACKARD, the leading personal-computer maker, reported profit and sales that topped analysts’ estimates on holiday demand for PCs and printers.
Excluding some costs, first-quarter profit was $1.10 a share, the company said yesterday. Sales rose to $31.2 billion (€22.9 billion).
Analysts projected a profit of $1.06 a share and sales of $30 billion, according to a Bloomberg survey. A year after cutting salaries and operating costs to preserve profit during the economic slump, chief executive officer Mark Hurd is benefiting from a rebound in demand for PCs – especially low-cost notebooks.
The company, the world’s biggest printer maker, is also enticing buyers with new models. PCs account for 30 per cent of revenue, while printers and supplies represent more than 20 per cent.
Sales this quarter will be about $29.4 billion to $29.7 billion, it said. Profit, minus some expenses, will be $1.03 to $1.05 a share.
Hewlett-Packard rose 68 cents to $50.12 at 4pm on the New York Stock Exchange. The shares have lost 2.7 per cent this year.
The company employs 4,000 people in Ireland at operations in Leixlip, Dublin, Galway and Belfast. – (Bloomberg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)