Thursday, February 16, 2006

HP puts in some impressive results

HP continued their run of impressive results as they announced their latest quartery financials. And the most shocking part of all was that the star this time was their much maligned PC division.

HP beat both its own and Wall Street forecasts for revenue and earnings growth in its most recent quarter.

The rebound in the company’s PC division came on the back of a 26% bounce in unit sales of notebook computers. Operating profit margins in the business, long HP’s most troubled unit, rose to 3.9%, “their highest level in many years,” said CEO Hurd.

Laptops look set to be the growth sector in the PC business thanks to the growth in Wi-Fi and hi-speed mobile networks. At least until the media center PC takes off as the hub for the digital living room/home. It'll be intersting to see how Dell's results come in later today.

Mark Hurd, CEO of HP, seems extremely adept at executing on ex-CEO Fiorina's strategy. You can't but wonder how HP might have done if Fiorina were Chairman or CEO and Hurd was executing for her as CEO or COO. Oh well.

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