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20 Aug 2010
HP has shrugged off its ongoing leadership woes to report a strong third-quarter financial performance.
The technology giant saw turnover hit $30.7bn (£19.8bn) for the quarter, an 11.4 per cent increase on the same quarter the previous year.
GAAP operating profit increased five per cent to $2.3bn.
Further reading
In terms of product areas, the firm reported a positive overall performance, with services revenue increasing one per cent to $8.6bn, enterprise storage and servers up 19 per cent to $4.4bn, software up two per cent to $864m and Personal Systems Group up 17 per cent to $9.9bn.
Cathie Lesjak, interim chief executive at HP, said: “The broad-based strength of HP’s Q3 performance further demonstrates the power of our strategy and the discipline of our execution.
“We raised our full-year outlook and are continuing to build momentum in driving out costs, investing for profitable growth and capitalising on HP’s competitive advantages in the marketplace.”
HP was caught on the back foot earlier this month when chief executive Mark Hurd was ousted over allegations of sexual harassment by former soft porn actress Jodie Fisher.
The rumour mill has been in overdrive as to Hurd’s next move, with some linking him to Nokia and others speculating on moves to other technology firms or even private equity.
Hurd and the HP board have also been issued with a lawsuit from a number of shareholders over the situation.
HP has enlisted the help of a specialist recruitment company to find a successor for Hurd.
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