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NEW YORK - HEWLETT Packard on Monday reported a solid fourth quarter on strong laptop sales, taking net profit for the full fiscal year to US$8.3 billion ($12.6 billion), an increase of 15 per cent over the previous year.
The world's largest technology company reported net profit in the quarter which ended on Oct 31 of US$2.1 billion, down two per cent on the same quarter the previous year.
Revenue for the fourth quarter rose 19 percent to US$33.6 billion taking revenue for the full 2008 fiscal year to US$118.4 billion, up 13 per cent on the previous year.
Hewlett Packard, the world's second-largest personal computer manufacturer, announced last week that earnings per share were US$1.03 in the fourth quarter, higher than the US$1.00 expected by analysts.
Hewlett Packard said it expected earnings per share of between 93 and 95 cents during the current quarter, the first of the 2009 fiscal year, better than the 91 cents forecast by analysts.
'These results demonstrate our ability to execute in a challenging market,' chairman and chief executive Mark Hurd said in a conference call with analysts.
'I am confident in HP's ability to gain share, expand earnings, and emerge from the current environment as a stronger force in the marketplace.'
Hewlett Packard said revenue grew 17 per cent in the Americas in the fourth quarter, 22 per cent in Europe, the Middle East and Africa and 14 per cent in Asia Pacific to US$14.0 billion, US$14.1 billion and US$5.5 billion, respectively.
Hewlett Packard said revenue from laptop computers grew a healthy 21 per cent in the fourth quarter while desktop revenue declined two per cent.
Besides personal computers, the Palo Alto, California-based Hewlett Packard is a major provider of servers, printers, software and services.
It said revenue from the imaging and printing group declined one per cent while revenue from storage and servers was also down one per cent.
Services revenue jumped 99 per cent to US$8.6 billion, led by US$3.9 billion in revenue resulting from Hewlett Packard's acquisition of computer services firm Electronic Data Systems.
In after-hours trading in New York, Hewlett Packard's share price was down 0.87 per cent to US$35.39 at 2200 GMT (6am Singapore time). -- AFP
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