HP has reported net revenues of $30.8bn for the second quarter ended April 30, 2010, an increase of 13% compared to $27.3bn for the same period last year.
Operating margin was 9%, compared to 8% for the same period last year. Net earnings for the quarter were up by 29% to $2.2bn, compared to $1.7bn for the same period a year ago.
Services revenue increased 2% to $8.7bn from $8.5bn, infrastructure technology outsourcing revenue increased to $3.9bn from $3.7bn, while revenue in technology services and business process outsourcing were flat year over year. Application services revenue was down to $1.51bn from $1.54bn prior-year period.
Geographically, Americas revenue was up by 11% to $13.5bn, revenue from Europe, the Middle East and Africa rose by 11% to $11.8bn, while revenue from Asia Pacific was up by 19% to $5.5bn. Revenue from outside the US accounted for 66% of the total revenue, the company said.
Mark Hurd, chairman and chief executive officer of HP, said: “HP had an exceptional quarter with strong performance across every region. We’ve built the best portfolio in the industry, and our customers are responding. We’re winning in the marketplace, investing for the future and confident in the enormous opportunity that lies ahead.”
HP anticipates revenue to be in the range of $29.7bn to $30bn in third quarter of fiscal 2010. For full fiscal year 2010, it expects revenue growth to be approximately between 8 to 9%.
