HP reports Q1 profit boost

16 February 2006 – Palo Alto (CA): Hewlett-Packard has posted a 30 per cent rise in Q1 profit following robust sales of notebook computers.
 
The company reported net income for its first fiscal quarter of $1.23 billion, or EPS of $0.42 cents, from $943 million, or EPS of $0.32 cents, a year earlier. Revenue rose to $22.7 billion from $21.5 billion.
 
Excluding one-time items, HP earned $1.39 billion, or and EPS of $0.48, compared with a profit of $1.08 billion or an EPS of $0.37 in 2005.
 
Revenue in HP’s PC group rose 8 per cent from the year-earlier quarter to $7.4 billion as unit shipments of PCs and notebooks climbed 16 percent. Notebook PC revenue increased 26 per cent.