Despite a changing of the guard in the corporate suite — and all the drama that went along with it — Hewlett-Packard is still posting profits. HP’s fiscal fourth quarter revenue totaled $33 billion, up eight percent from the year-ago period.
In the Americas, revenue was up 10 percent to $15.1 billion. Net revenue for the full fiscal year 2010 was $126 billion, up 10 percent compared with the year-ago period. HP predicts fiscal year 2011 revenue in the range $132 billion to $133.5 billion
“HP proved once again that it is able to execute, given its market strengths and technology leadership,” said Léo Apotheker, HP president and CEO. “I have seen firsthand that we have talented people who are focused on delivering value for our customers. Our market opportunity is vast, and I am confident that we will extend our leadership into the future.”
HP saw gains across all geographies. Fourth-quarter revenue was up six percent in Europe, the Middle East, and Africa, and eight percent in Asia Pacific to $12.4 billion and $5.8 billion, respectively.
Revenue from outside the United States accounted for 64 percent of total HP revenue, with BRIC countries (Brazil, Russia, India and China) revenue increasing 12 percent and accounting for 10 percent of total HP revenue.
“HP continued to execute in the fourth quarter, delivering growth, expanding margins, and increasing earnings per share by double digits,” said Cathie Lesjak, HP’s executive vice president and chief financial officer. “We continue to invest in the business, in sales, and in R&D, while driving further efficiencies.”
Business IT Drives Recovery
As Charles King, principal analyst at Pund-IT, sees it, the biggest news around HP’s earnings is not that Apotheker handled the analyst calls well. The biggest news is that business IT appears to be driving the recovery much more than the consumer…