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November 22, 2010

HP Q4 revenue up 8% to $33.3bn

Net earnings up 5% on year ago quarter

By CBR Staff Writer

HP has reported net revenues of $33.3bn for the fourth quarter of 2010, an increase of 8% compared to $31bn for the same period last year.

The company has reported operating margin of 9.9%, a decrease of 0.3 percentage points compared to 10.2% for the same period last year.

Net earnings for the quarter was up 5% to $2.5bn, compared to $2.4bn for the same period a year ago.

Geographically, revenue was up 10% in Americas to $15.1bn, compared to the same period last year.

Revenue increased by 6% in Europe, the Middle East and Africa and 8% in Asia Pacific to $12.4bn and $5.8bn, respectively.

Revenue from outside the US accounted for 64% of the total revenue.

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For full year fiscal 2010, net revenue was up 10% to $126bn, operating profit was $11.5bn while net earnings were $8.8bn, compared to $7.7bn for the same period last year.

HP anticipates revenue to be in between $32.8bn and $33bn for first fiscal quarter of 2011 and diluted earnings per share to range between $1.06 and $1.08.

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