The manufacturer reported a group profit of US$2.2bn for the three months ending 30 April 2010, up from US$1.7bn in the same period last year.
Operating profit at at HP’s Imaging and Printing Group reached US$465m, compared with US$378m in Q2 2009. Revenue in the division grew 8% year-on-year to US$6.4bn, while supplies revenue at the division was up 6%. Commercial client revenue grew 19%.
Elsewhere across the company, revenues at its software division fell by 1% to US$871m.
Geographically, Asia Pacific demonstrated the highest degree of growth for the group – revenues in the region were up 19% to US$5.5bn. In Europe, the Middle East and Africa, they grew 11% to US$11.8bn, and in the Americas, revenues increased 11% to US$13.5bn.
“HP had an exceptional quarter with strong performance across every region,” said Mark Hurd (pictured), HP’s chairman and chief executive. “We’ve built the best portfolio in the industry and our customers are responding.”
The group said it expected its full 2010 revenues to grow by approximately 8-9%.
“We’re winning in the marketplace, investing for the future and confident in the enormous opportunity that lies ahead,” Hurd added.
HP is currently exhibiting at Ipex, where it has expanded its wide-format product line-up from entry-level to industrial products.
Read the original article at www.printweek.com.
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