HP Reports Profit During Time Of Change - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

HP Reports Profit During Time Of Change

Hewlett-Packard on Wednesday reported a profit of $760million for its fourth fiscal quarter, ended Oct. 31, up from $710 million for the comparable quarter last year. Revenue for the quarter was $11.36 billion, compared with revenue of $10.30 billion during the fourth quarter of fiscal 1998.

For fiscal 1999, revenue was $42.37 billion, up from $39.42 billion last year, and net profit from continuing operations increased 16% to $3.1 billion.

Carly Fiorina, HP president and CEO, said financial results in the fourth quarter were impacted by outside issues. "Revenue growth in the computer business is not as good as it should be," Fiorina said in a conference call with press and analysts yesterday. Fiorina said she is challenging her employees to achieve 12% to 15% increases in both revenue and profit for the current fiscal year.

HP was able to balance operations while implementing changes across the board, including a division into two companies-- the computing and imaging business and the test and measurement business, now called Agilent Technologies. The fourth-quarter results represent the computing and imaging business only.

Fiorina said the printing and imaging business did well, but server sales were flat except for the high-end Unix V-class line. The PC business was profitable but impacted by a component shortage in Taiwan, and storage sales slowed because of a partnership transition from EMC Corp. to Hitachi Data Systems. Said Fiorina: "We're showing that we're capable of more than our prior results demonstrated, and we need to aim high."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
Slideshows
10 Trends Accelerating Edge Computing
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/8/2020
Commentary
Is Cloud Migration a Path to Carbon Footprint Reduction?
Joao-Pierre S. Ruth, Senior Writer,  10/5/2020
News
IT Spending, Priorities, Projects: What's Ahead in 2021
Jessica Davis, Senior Editor, Enterprise Apps,  10/2/2020
Register for InformationWeek Newsletters
Video
Current Issue
[Special Report] Edge Computing: An IT Platform for the New Enterprise
Edge computing is poised to make a major splash within the next generation of corporate IT architectures. Here's what you need to know!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll