Today , HP announced its financial report for the third fiscal quarter ended July 31, 2010, with $30.7 billion of net revenue , up 11.4% from a year earlier including a favorable currency benefit of approximately one percentage point.
According to the Chief Financial Officer and interim CEO, Cathie Lesjak:
The broad-based strength of HP’s Q3 performance further demonstrates the power of our strategy and the discipline of our execution,” said Cathie Lesjak, HP chief financial officer and interim chief executive officer. “We raised our full-year outlook and are continuing to build momentum in driving out costs, investing for profitable growth and capitalizing on HP’s competitive advantages in the marketplace.
Following are some of the key points of the financial report :
— Third quarter net revenue of $30.7 billion, up 11.4%, or $3.1 billion, from a year earlier
— Third quarter GAAP operating profit up 5% to $2.3 billion; GAAP diluted earnings per share of $0.75, up 9% from $0.69 a year earlier
— Third quarter non-GAAP operating profit up 14% to $3.4 billion; non-GAAP diluted earnings per share of $1.08, up 17% from $0.92 a year earlier
— Broad-based year-over-year revenue growth driven by ESS at 19%, PSG at 17% and IPG at 9%
— Record services signings
— Solid year-over-year revenue growth across all regions
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