HP boasts fuller figures

By Matt Whipp

Posted on 20 Nov 2003 at 13:27

HP has posted its Q4 results, exceeding analyst expectations.

All divisions put in profitable performances, marking a turnaround for the Enterprise Systems as it edged back into the black with an operating profit of $106mn.

Personal systems grew 19 per cent with $6bn revenues: shipments rose 23 per cent for desktops and 53 per cent for laptops.

Overall, revenues for the quarter were $19.9bn, compared with analyst predictions of $19bn, which is up 10 per cent year on year. The company also boosted its operating profit 152 per cent year on year to $1.1bn.

'We've made the tough decisions, the portfolio choices and the necessary investments. We enter the new fiscal year with strong momentum. I have never been more confident in HP's competitive position," said Carly Fiorina, HP chairman and chief executive officer.

The revenues broke down to 46 per cent from the Americas, 39 per cent in Europe, 11 per cent for Asia Pacific and 4 per cent for Japan. European revenues put in a sparkling performance, growing 16 per cent sequentially and 14 per cent year on year.

HP estimates revenues will range from $19.1bn to $19.5bn in its Q1 2004, up from previous guidance of $19bn.