HP has reported net revenues of $32.3bn for the first quarter of fiscal year 2011, an increase of 4% compared to $31.2bn for the same period last year.
Operating margin was 10.5%, an increase of 0.9 percentage points compared to 9.6% for the same period last year.
Net earnings for the quarter were up by 6% to $2.6bn, compared to $2.3bn for the same period a year ago.
Services revenue decreased to $8.6bn from $8.8bn for the same quarter last year.
Revenue from enterprise servers, storage and networking increased to $5.6bn, software revenue increased to $697m, imaging and printing group revenue increased to $6.6bn while revenue from personal systems group decreased to $10.4bn.
Geographically, Americas revenue was up by 6% to $14.4bn, revenue from Europe, the Middle East and Africa was flat at $12.1bn while revenue from Asia Pacific was up by 7% to $5.8bn.Revenue from outside the US accounted for 65% of the total revenue.
HP anticipates revenue to be in the range of $31.4bn to $31.6bn and diluted EPS to range between $0.99 and $1.01 in second quarter of fiscal 2011
