Computer and printer manufacturer Hewlett Packard enjoyed a hugely successful fourth quarter, as profits increased by 28 per cent to exceed expectations. The California based firm saw its profits rise to $2.63 billion, with the increase largely due to increased laptop sales and vast demand for its printer ink .
The world’s biggest PC seller saw a surge in computer sales, with laptop sales up by 49 per cent to $5.16 billion, and desktop sales up 15 per cent to $4.21 billion. Overall sales were up by 15 per cent to $28.29 billion, though HP made most of its profits from the sales of printer ink, with 42 per cent of profits derived from this category.
So confident are the company in their future that the board have authorized a further $8 billion for stock buybacks, signalling the company’s belief that its shares continue to be undervalued.
HP own 20 per cent of the global PC market, having surged past Dell in recent years.
Laptop and Ink Sales Boost Hewlett Packard
Mon, 26 Nov 2007
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