Meanwhile, HP’s Imaging and Printing Group (IPG) revenue increased 8 per cent to $6.4bn. Supplies revenue was up 6 per cent, while commercial hardware revenue and consumer hardware revenue increased 13 per cent and 16 per cent, respectively.

Printer unit shipments increased 9 per cent, with commercial printer hardware units down 8 per cent and consumer printer hardware units up 15 per cent. Operating profit was $1.1bn, or 17.2 per cent of revenue, versus $1.1bn or 18.2 per cent of revenue, in the prior-year period.

Mark Hurd, chairman of HP says, “HP had an exceptional quarter with strong performance across every region. We’re investing for the future and confident in the enormous opportunity that lies ahead.”

Also commenting, Cathie Lesjak, chief financial officer at HP says, “HP drove double-digit revenue growth and improving profits, contributing to our twentieth consecutive quarter of year-over-year operating margin expansion,”

Lesjak continues, “With the improving demand environment, we are accelerating investments for growth while raising our full-year outlook.”

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