Profit boost for HP

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17 May 2006 – San Jose (CA): Q2 profit at Hewlett-Packard (HP) rose 51 per cent to $1.46 billion from $966 million last year thanks to higher revenue and lower costs.

Sales rose 5 per cent to $22.6 billion from $21.6 billion in Q2 2005. Revenues would have risen by 8 per cent had it not been for the effects of foreign exchange rates, the company said.

 

The results come 14 months after Mark Hurd joined HP as CEO under a mandate to cut costs and boost stagnant revenues.