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February 25, 2016updated 31 Aug 2016 12:44pm

HP printer and notebook business bets on delivering “amazing innovations” to halt decline

Financials: While Salesforce posts "spectacular" finish to 2015 as SaaS business booms.

By James Nunns

Salesforce has posted its 2016 fourth quarter and full year results revealing a strong end to the year with 27% revenue growth in the fourth quarter year-over year.

This growth means that it reached quarterly revenue of $1.81 billion while its full year revenue of $6.67 billion was also up by 27% in constant currency.

Further figures from the financial results see quarterly operating cash flow of $459m, up 38% year-over-year and full year operating cash flow of $1.61 billion, up 37% year-over-year.

Deferred revenue stands at $4.29bn, up 29% year-over-year, 31% in constant currency. While unbilled deferred revenue is approximately $7.1bn, up 25% year-over-year.

Marc Benioff, CEO and chairman, Salesforce, said: "By any measure, this was a spectacular finish to the year with 27% revenue growth in constant currency for the fourth quarter, and for the full year."

The company has said that it is raising its fiscal year 2017 guidance to $8.12 billion, an increase of 21% to 22% year-over-year. Shares rose by 7.2% to $67 in after-hours trading.

HP Inc also reported its first quarter financial results as a standalone since HP split in two in 2015.

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The company posted net revenue as being down 12% year-on-year to $12.2bn, while net earnings came to $592m, down 56% on the same period a year ago.

In the Personal Systems division Notebooks brought in $4.2bn, down 11% year-on-year, desktop revenue was down 14% to $2.5bn and workstations took in $444, down 16%.

The printing division saw sales of supplies bring in $3.1bn, down 14% year-on-year, commercial hardware took $1.2bn, down 13%, consumer hardware fell by 46% to $322m.

Dion Weisler, HP President and CEO, said: "We have a clear strategy that leverages our strengths, and we are focused on execution, taking cost out of the business and delivering innovations that will amaze our customers and partners."

"Although we have some tough quarters ahead, I am confident in the future."

HP Inc’s stock price closed at $10.81, up 4.85% for the day but fell 1.39% in after-hours trading when the financial results were published.

In other financial news, Japanese electronics company Sharp has accepted a $4.3bn takeover bid by Taiwanese multinational Foxconn.

Foxconn’s business sees it assembling most of the world’s iPhones, while Sharp which was founded in 1912 is seen as a leader in liquid display technology.

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