HP Revenues Up 10%

Aug. 20, 2008
Revenue from the BRIC countries grew 24% from last year

HP announced on August 19 that revenue for its third fiscal quarter was $28.0 billion, up 10% from a year earlier and up 5% when adjusted for the effects of currency.

In the third quarter, GAAP operating profit was $2.5 billion. Non-GAAP operating profit was $2.7 billion.

"By accelerating our enterprise growth and executing well across the portfolio, HP delivered a strong third quarter performance," said Mark Hurd,CEO. "Our global position, broad product and services offerings and incremental cost saving opportunities make us confident that we'll continue to meaningfully expand earnings."

Looking at the geographical source of revenues the Americas grew 4% on a year-over-year basis to $11.6 billion. Revenue grew 16% in Europe, the Middle East and Africa to $11.2 billion. Revenue grew 14% in Asia Pacific to $5.2 billion.

Revenue from outside of the U.S. in the third quarter was 68% of the total, with revenue in the BRIC countries (Brazil, Russia, India and China) growing 24% over the prior-year period and accounting for 10% of total revenue.

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