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Hewlett-Packard delivers another solid quarter

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Hewlett-Packard delivers another solid quarter

Mark Hurd keeps his company on track, as Hewlett-Packard (HP) today announced its largest revenue growth in seven years. Sales rose 16% year-over-year to $25.9 billion with net profits climbing 29% to $1.8 billion for the quarter ended July 31, 2007.

The company showed improvements across the board, in every single of its businesses. Particularly successful was the firm’s personal systems group, whose sales climbed 29% to $8.9 billion and becomes more important as HP’s largest business in terms of sales. With notebook revenues rising 54% year over year, the group was able to almost double its profits from $275 million to $519 million.

The printer business, second in line in sales, remains the company’s most profitable division, with sales of $6.8 billion and earnings of $981 million, up from $884 million last year.

The server business recorded revenues of $4.5 billion with a profit of $464 million, services saw its sales increasing to $4.2 billion ($430 million profit) and even HP’s long forgotten software business is making a nice comeback: The unit reported revenues of $554 million, up 74% from last year, and a profit of $81 million (up 520% from $13 million last year).