HP has reported net revenue of $30.7bn for the third quarter of 2010, an increase of 11.4% as compared to $27.6bn for the same period last year.
For the third quarter ended July 31, 2010, the company’s operating income increased marginally to $2.32bn, compared to $2.21bn for the same period last year.
HP posted net earnings of $1.77bn, compared to $1.67bn in Q3 FY09. EPS was $0.75 as compared to EPS of $0.69 for the same period last year.
The company’s revenue from services and software increased marginally to $8.6bn and $863m respectively.
Revenue from enterprise storage and servers revenue grew 19% to $4.45bn and printing group revenue increased 9% to $6.2bn.
HP’s revenue from Personal Systems Group increased 18% to $10bn, and Imaging and Printing Group revenue increased 9% to $6.2bn.
HP chief financial officer and interim chief executive officer Cathie Lesjak said that the company has raised the full-year outlook and is continuing to build momentum in driving out costs, investing for profitable growth and capitalising on HP’s competitive advantages in the marketplace.
The company expects fourth quarter 2010 revenue to be in the range of $32.5bn and $32.7bn and earning per share in the range of $1.03 and $1.05.
