HP reports $32.3bln net revenue in Q1 FY 2011

PanARMENIAN.Net - Hewlett-Packard Co, HP, announced financial results for its first fiscal quarter ended Jan. 31, 2011. Net revenue of $32.3 billion was up 4 percent from the prior-year period in constant currency, and GAAP net earnings totaled $2.6 billion, up 16 percent.

Revenue was up 6 percent in the Americas to $14.4 billion and up 7 percent in Asia Pacific to $5.8 billion. Revenue was flat in Europe, the Middle East and Africa at $12.1 billion. When adjusted for the effects of currency, revenue was up 5 percent in the Americas, up 4 percent in Europe, the Middle East and Africa and up 2 percent in Asia Pacific.

For the second quarter of fiscal 2011, HP estimates revenue of approximately $31.4 billion to $31.6 billion. It expects full year fiscal 2011 revenue in the range $130 billion to $131.5 billion, PIworld reported.