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PCs & laptops boost HP's Q3

HP reports 29% increase in net profit

HP's PC business and software sales from its Mercury Interactive acquisition helped produce net profit of $1.8bn, for a 29 percent increase, with a 16 percent boost in revenue in the fiscal third quarter, according to financial results released yesterday.

HP's profit was $0.66 per share, on revenue of $25.4bn in the three months that ended July 31, up from $0.48 a share, on revenue of $21.9bn in the same quarter last year. Profit in that quarter was $1.4bn.

Revenue from its Personal Systems Group, primarily desktop and notebook computers sold to consumers, grew 29 percent to $8.9bn. Revenue from the HP Software group boosted revenue 74 percent to $554 million, driven by sales from its $4.5 billion acquisition of Mercury Interactive in 2006. Mercury was not yet part of HP in last year's third quarter.

The third quarter results matched HP's second quarter performance of net income of US$1.8bn, or $0.65 a share, on revenue of $25.5bn. The results also matched the consensus of analysts surveyed by Thomson Financial, who forecast $0.66 a share profit on revenue of $24.09bn.


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