HP’s print division jumps 41 per cent

According to HP, the IPG continued to deliver strong performance across the business with share gains in all printing categories. The IPG also continued to drive innovation and momentum with the new ePrint platform, graphic arts and other commercial print solutions.

Cathie Lesjak, executive vice president and chief financial officer at HP says, “In the second quarter, we saw continued strength in the enterprise with combined revenue from our commercial businesses up 8 per cent year over year.

“We again expanded our margins and increased both earnings per share and cash flow from operations double digits year over year.”

Revenue was up 10 per cent in Asia Pacific to $6.1bn (AU$5.7bn), however when adjusted for the effects of currency, revenue was only up 4 per cent. Revenue from outside of the United States in the second quarter accounted for 66 per cent of total HP revenue. HP saw accelerated growth in BRIC countries (Brazil, Russia, India and China) with revenue increasing 19 per cent while accounting for 12 per cent of total HP revenue.

HP’s overall net revenue of $31.6bn was up 3 per cent from the prior-year period as reported but only up 1 per cent when adjusted for the effects of currency.

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