Software Is the Star Performer for HPBy Sara Driscoll | Print
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As the vendor reveals its latest financial results, it is bouyed by its software and notebook units.HP is lauding its software unit as its major growth area, following the vendor's latest financial results.
HP reported net revenue of $28.3 billion, up 15 percent from a year earlier and up 11 percent when adjusted for the effects of currency for its fourth fiscal quarter ended Oct. 31, 2007. GAAP operating profit was $2.6 billion while non-GAAP operating profit was $2.8 billion.
However, revenue in the United States grew 10 percent on a year-over-year basis to $11.9 billion, while revenue in Europe, the Middle East and Africa grew 19 percent to $11.6 billion. Revenue grew 20 percent in Asia Pacific to $4.8 billion. When adjusted for the effects of currency, revenue in the United States grew 9 percent, revenue in Europe, the Middle East and Africa grew 12 percent and revenue in Asia Pacific grew 14 percent. Revenue from outside of the United States in the fourth quarter was 67 percent.
The vendor was buoyed by its notebook revenue, which grew 49 percent over the prior year period. However, desktops showed only a 15 percent growth. Overall the Personal Systems Group revenue grew 30 percent year over year to $10.1 billion, with unit shipments up 31 percent on a year-over-year basis.
Other groups within the vendor also showed some growth; Imaging and Printing Group revenue grew 4 percent year over year to $7.6 billion, Enterprise Storage and Servers reported revenue of $5.2 billion, up 10 percent over the prior-year period; HP Services revenue increased 7 percent year over year to $4.4 billion and HP Financial Services reported revenue of $657 million, an increase of 21 percent year over year.
HP estimates first-quarter fiscal year 2008 revenue will be approximately $27.4 billion to $27.5 billion.