HP announced a rise in its third quarter earnings of 14% from last year, helped by growth in its international business and strong notebook pc sales.
Geographically, third quarter revenue in the Asia Pacific revenue increased 14% to $5.2 billion, the Americas grew 4% year-over-year to $11.6 billion, while revenue in Europe, the Middle East and Africa rose 16% to $11.2 billion.HP's Imaging and Printing Group posted revenue of $7.0 billion for the third quarter, up 6% from a year earlier. For the third quarter, supplies revenue grew 11%, while commercial hardware revenue declined 5% and consumer hardware revenue fell 14% compared to a year ago. Printer unit shipments were down 2% during the second quarter.
Mark Hurd, chief executive officer HP, said, "Our global position, broad product and services offerings and incremental cost saving opportunities make us confident that we'll continue to meaningfully expand earnings,"
Since taking on Hurd as CEO, HP has split its printer and personal computer divisions, and recently announced a major restructuring, including a reduction in its workforce, all expected to result in annual cost savings of $1.9 billion.
