HP Reports Profit During Time Of Change - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

HP Reports Profit During Time Of Change

Hewlett-Packard on Wednesday reported a profit of $760million for its fourth fiscal quarter, ended Oct. 31, up from $710 million for the comparable quarter last year. Revenue for the quarter was $11.36 billion, compared with revenue of $10.30 billion during the fourth quarter of fiscal 1998.

For fiscal 1999, revenue was $42.37 billion, up from $39.42 billion last year, and net profit from continuing operations increased 16% to $3.1 billion.

Carly Fiorina, HP president and CEO, said financial results in the fourth quarter were impacted by outside issues. "Revenue growth in the computer business is not as good as it should be," Fiorina said in a conference call with press and analysts yesterday. Fiorina said she is challenging her employees to achieve 12% to 15% increases in both revenue and profit for the current fiscal year.

HP was able to balance operations while implementing changes across the board, including a division into two companies-- the computing and imaging business and the test and measurement business, now called Agilent Technologies. The fourth-quarter results represent the computing and imaging business only.

Fiorina said the printing and imaging business did well, but server sales were flat except for the high-end Unix V-class line. The PC business was profitable but impacted by a component shortage in Taiwan, and storage sales slowed because of a partnership transition from EMC Corp. to Hitachi Data Systems. Said Fiorina: "We're showing that we're capable of more than our prior results demonstrated, and we need to aim high."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
Enterprise Guide to Edge Computing
Cathleen Gagne, Managing Editor, InformationWeek,  10/15/2019
News
Rethinking IT: Tech Investments that Drive Business Growth
Jessica Davis, Senior Editor, Enterprise Apps,  10/3/2019
Slideshows
IT Careers: 12 Job Skills in Demand for 2020
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/1/2019
Register for InformationWeek Newsletters
Video
Current Issue
Getting Started With Emerging Technologies
Looking to help your enterprise IT team ease the stress of putting new/emerging technologies such as AI, machine learning and IoT to work for their organizations? There are a few ways to get off on the right foot. In this report we share some expert advice on how to approach some of these seemingly daunting tech challenges.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll