14 DAY TRIAL // Like its rivals on the PC market, IT giant HP has posted its financial results for the latest FY quarter, which happens to be the third one in Fiscal Year 2010, and while it seems to have scored a reasonable on-year increase, it failed to prevent its revenues from slipping sequentially.
Compared to the same period of 2009, all of HP's groups returned higher revenues, the surges being of between 9% and 19%.
The Imaging and Printing group was at the bottom, with a 9% rise, followed by the Personal Systems Group, which managed a 12% on-year growth.
Furthermore, the HP Financial Services jumped 14% and, finally, the Enterprise Storage and Servers posted a full 19%.
All in all, revenues topped $30.7 billion during the third quarter of Fiscal Year 2010, quite a bit more than the $27.5 billion it managed to gather during Q3 of FY 2009.
On the other hand, this sum is smaller than the one reached during the second quarter of FY 2010, when HP posted $30.8 billion.
These figures correspond to profits of $1.77 billion, less than the $2.2 billion of Q2.
"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."
On a regional basis, revenues grew, year-over-year, by 12% in the Americas, 9% in Europe, Middle East and Africa and 14% in the Asia Pacific region (exact figures were of $14.2 billion, $10.9 billion and $5.6 billion, respectively).
Finally, as far as the fourth quarter is concerned, HP expect GAAP EPS (earnings per share) of $1.03 to $1.05, and revenues of between $32.5 billion and $32.7 billion.