Menu
HP server group sees profit in Q4

HP server group sees profit in Q4

Hewlett-Packard Co.'s troubled Enterprise Storage and Servers group bounced back to profitability during its most recent financial quarter, and the company as a whole saw revenue rise 8 percent to US$21.4 billion, the Palo Alto, California, company reported Tuesday.

HP's net earnings for its fourth fiscal quarter, which included $136 million in after-tax adjustments, were $1.2 billion, or $0.41 per share. This exceeded analyst expectations of $0.37 per share compiled by Thomson First Call. HP's total revenues were also slightly ahead of Thomson's estimates, which had been $21.1 billion, according to a survey of 18 financial analysts.

Excluding the adjustments, HP's net earnings were $1.1 billion, or $0.37 per share.

The Enterprise Storage and Servers group reported an operating profit of $107 million and a 7 percent increase in revenue. Several key executives in that group were fired last quarter following a botched order processing system migration. The group recorded $4.1 billion in revenue for the quarter.

HP Services reported a profit of $367 million, with revenues up 13 percent from the previous year to $3.7 billion.

The company's Imaging and Printing Group reported a profit of $1.1 billion on revenues of $6.5 billion. HP sold 14 million printers during the quarter, but total revenue was up only 5 percent from the year-ago quarter.

HP's storage division continued to struggle. Networked storage revenue was down 9 percent, year-over-year, the company said.

The company will hold a conference call Tuesday afternoon to discuss its results.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments