Hewlett-Packard shares jump 7% on enterprise division profit

HP logo The once-mighty Hewlett Packard has struggled to keep up with changing customer tastes

Related Stories

The veteran computer firm Hewlett-Packard saw its shares jump 7% in after hours' trading on results that suggest its enterprise division will make up for falling PC sales.

HP's fourth-quarter revenue fell 3% to $29.1bn (£18bn), about half the size of the fall expected.

Revenue at the key enterprise group rose and income was $2bn.

The 70-year-old company has struggled to keep up with shifting consumer demand for smaller, portable devices.

Its Enterprise Group revenue was up 2% on the same period last year, with a 14.5% operating margin.

Chief executive Meg Whitman, who took over in 2011, said in a statement: "Through improved execution, strong cost management, and with the support of our customers and partners, HP ended fiscal 2013 on a high note."

She added that these results showed that HP's turnaround remained on track.

Previously Ms Whitman warned that the firm, which has been laying off tens of thousands of staff, was "unlikely" to see revenue growth next year.

Her comments came as the firm reported an 8% decline in revenue for the quarter ending 31 July, from a year ago.

HP was displaced by China's Lenovo as the world's top PC maker last year.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • Three santa hatsChristmas again

    The town where it's celebrated three times a year


  • Anastasia Romanovna KrandievskayaShips in the night

    The Russian beauty who rebuffed a British writer as chaos loomed


  • The house where Hitler was bornHouse of Hitler

    Vacant birthplace of Nazi leader gives Austria a headache


  • Uber app and Taxi rankUber wars

    Battles over cheap taxis and other big ideas from 2014


From BBC Capital

Programmes

  • Stephen Sackur with Status Quo's Francis RossiHARDtalk Watch

    Watch extracts of some of Stephen Sackur's best interviews from 2014

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.