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Notebook, software sales drive HP net income to US$1.5B

Notebook, software sales drive HP net income to US$1.5B

Sales of notebook computers and software helped drive up Hewlett-Packard's second-quarter net income to US$1.5 billion from US$1 billion in the same period of last year, the company said.

HP recorded revenue of US$22.6 billion in the quarter that ended April 30, up from US$21.6 billion revenue in last year's second quarter.

Excluding certain items, HP had operating profit of US$1.8 billion, up from US$1.3 billion in the same quarter last year.

The Palo Alto, California, company estimates its third-quarter revenue will be about US$21.8 billion, and about US$91 billion for its full fiscal year, in line with current analyst consensus expectations.

HP's notebook revenue rose 27% over the second quarter of last year, with desktop revenue up 1%. The Personal Systems Group, which includes notebooks and desktops, had operating profit of US$248 million, up from US$147 million in the same period of last year. Software revenue rose 20% year over year, to US$330 million.

HP's earnings come on the heels of a warning from PC rival Dell last week. Dell lowered its first-quarter forecast to revenue of US$14.2 billion, compared to its earlier forecast of US$14.2 billion to US$14.6 billion. Dell will release its quarterly earnings today. Although Dell still ships the most PCs worldwide, it lost market share to HP this year, according to IDC analysts.


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