HP reports revenue up 15%

Computer manufacturer HP has reported a strong set of fourth quarter financial results, with net revenue up 15 per cent year-on-year, while profit was up 38 per cent.

That puts total revenue for the three months ending October 31 at USD 28.3 billion, USD 2.6 billion of which was profit.

The Personal Systems Group, responsible for PC sales, reported revenue of USD 10.1 billion, up from USD 7.8 billion a year ago, while software was up from USD 349 million to USD 648 million.

The company saw revenue hit USD 104.3 billion for the whole year, USD 8.7 billion of which was profit, and the company is now forecasting revenue to rise in itse 2008 financial year to USD 111.5 billion.

Additionally the HP board has approved a USD 8 billion share repurchase war chest following the announcement.