HP Q1 revenue up 11 percent

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21 February 2007 — Palo Alto (CA): Hewlett-Packard (HP) has reported Q1 net revenue of $25.1 billion, growth of 11 percent compared to $22.7 billion last year.

GAAP operating profit was $1.8 billion and GAAP diluted EPS were $0.55, up from $0.42 in the prior year period.

 

Imaging and Printing Group (IPG) revenue rose 7 percent year-on-year to $7 billion. Printer unit shipments increased 18 percent compared to last year. All-in-one unit shipments were up 27 percent on last year and colour laser printer shipments rose by 35 percent. Shipments of printer-based MFPs increased by 80 percent.

 

During the quarter, on a year-over-year basis, revenue in the Americas grew 6 percent to $10.4 billion. Revenue in Europe, the Middle East and Africa grew 14 percent to $10.7 billion, and grew by 15 percent to $4 billion Asia Pacific.

 

CEO Mark Hurd said: "HP delivered a strong first quarter, with improved margins and solid revenue growth across our businesses. We have a lot of work and opportunities ahead of us. I am confident we can continue to execute with discipline and deliver a year of strong financial returns."