APN News

  • Friday, August, 2020| Today's Market | Current Time: 01:05:17
  • Hewlett-Packard Co. (HP)  reported that its profit rose 6 percent in the most recent quarter thanks to robust sales of servers and personal computers.

    In its third fiscal quarter ended on July 31, HP’s net income reached 1.8 billion U.S. dollars, compared with 1.7 billion dollars in the same period a year earlier.

    Revenue in the quarter totaled 30.7 billion dollars, representing an increase of 11 percent year-on-year.

    The Industry Standard Server division posted a revenue increase of 31 percent, while revenue of the Personal Systems Group grew 17 percent in the quarter, HP said.

    “The broad-based strength of HP’s Q3 performance further demonstrates the power of our strategy and the discipline of our execution,” Cathie Lesjak, the company’s chief financial officer and interim chief executive officer (CEO), said in a statement.

    It was HP’s last quarterly report under former CEO Mark Hurd, who resigned on Aug. 6 following an investigation of a claim of sexual harassment against him and HP by a former contractor.

    The investigation determined there was no violation of HP’s harassment policy, but did find violations of HP’s standards of business conduct, the company has announced.