With new globe-trotting CEO Leo Apotheker at the controls, server, PC, printer, and services provider HP yesterday reported solid fourth-quarter financial results.
The company said its net revenue for the three-month period ended Oct. 31 was $33.3 billion, up 8% from the $30.8 billion HP reported in the fourth quarter last year. HP had net earnings for the period of $2.5 billion, up 5%.
The company reported strength in its converged infrastructure, managed print services, commercial printing, and enterprise server and storage businesses. Notebook PC sales dipped, however, due in part to quality issues that HP is coping with in China. HP also said parts of its outsourcing services business slumped during the fourth quarter.
Nevertheless, Apotheker told financial analysts, “We had a very strong fourth quarter, and I am confident that we will execute in the first quarter and the years ahead.”