Monday, 26 November 2007

HP Reports 20% Revenue Growth in AP in Q4

HP announced financial results for its fourth fiscal quarter that ended Oct. 31, 2007, with net revenue of 28.3 billion dollars, up 15 percent from a year earlier and up 11 percent when adjusted for the effects of currency...

HP announced financial results for its fourth fiscal quarter that ended Oct. 31, 2007, with net revenue of 28.3 billion dollars, up 15 percent from a year earlier and up 11 percent when adjusted for the effects of currency.

Revenue grew 20 percent in Asia Pacific to 4.8 billion dollars.

"Strong performance across our businesses was highlighted by sharp improvement in our software segment," said Mark Hurd, HP chairman and chief executive officer.

HP Software revenue doubled over the prior-year period to 698 million dollars. HP attributed this strong growth to the businesses acquired in its' purchase of Mercury Interactive.

"We have added over billion of new revenue this year. While we still have more work to do, HP is well positioned to make further progress in the marketplace," added Hurd.

HP estimates its first quarter for financial year 2008 will be approximately 27.4 billion dollars to 27.5 billion dollars.