HP’s 16% growth in Q2

New York, May 21
Global technology giant, Hewlett-Packard, the California based firm, saw 31% growth revenue from the sale of the notebook in the last quarter. In Anticipation to the acquisitions made by EDS, ‘the deal’ plans to double HP’s service revenue.

The 16% growth over the corresponding period last year, had reported net revenue of 25.53 billion dollars. Announcing the net profit of 2.06 billion dollars as of April 30, 2008, for the latest quarter, HP’s revenue shot up by 11% to 28.26 billion dollars. For the year of 2008, HP expects to tune the revenue of 114.2 billion to 114.4 billion dollars.

The revenue coming from Brazil, Russia, India and china (BRIC counties) has outgrown to 26%, accounting to almost 10% of the total revenue. Earlier this month, the firm had announced that it would acquire technology services company EDS for an estimated 13.9 billion dollars to expand its Indian presence. On Tuesday, HP chairman and chief executive officer Mark Hurd said, "HP turned in another strong quarter, supported by improvement across our businesses. With 70% of revenue now coming from outside the US, we benefited from robust demand in emerging economies”.

The combination of both the firms advance HP’s objectives and strengthen it’s services to provide a better competitive edge for it’s rival IBM Corporation. The combined entity would offer services such as IT outsourcing, business process outsourcing and HR outsourcing. According to Hurd, the company's financial outlook demonstrates its strength in the global marketplace. PTI

***Edited When I was interning with FE***
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