Q4: Hewlett Packard’s Revenues and Turnover Grow

Nov 22, 2007

HP today announced financial results for its fourth fiscal quarter ended October 31 2007, with net revenue of US$ 28.3 billion, up 15% from a year earlier and up 11% when adjusted for the effects of currency.

In the fourth quarter, GAAP operating profit was US$ 2.6 billion and GAAP diluted earnings per share (EPS) was US$ 0.81, up from US$ 0.60 in the prior-year period. Non-GAAP operating profit was US$ 2.8 billion, with non-GAAP diluted EPS of US$ 0.86 up from US$ 0.68 in the prior-year period.

"Strong performance across our businesses was highlighted by sharp improvement in our software segment," said Mark Hurd, HP chairman and chief executive officer. "We have added over US$ 12 billion of new revenue this year. While we still have more work to do, HP is well positioned to make further progress in the marketplace."

HP Software revenue doubled over the prior-year period to US$ 698 million, led by strong growth from the businesses acquired in HP's purchase of Mercury Interactive. On a year-over-year basis, HP OpenView grew 24% excluding Mercury. Operating profit was US$ 177 million, or 25.4% of revenue, up from US$ 60 million, or 17.2% of revenue, in the prior-year period.

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