Technology major Hewlett-Packard (HP) has reported 25 per cent growth in net income at $2.32 billion for the three months period ending January 31, 2009, on the back of stronger sales of personal computer and servers.
In the year-ago period, the company had a net income of $1.85 billion, HP said in a statement. Net revenue increased to $31.17 billion in the November-January period of 2009 from $28.8 billion in the same quarter last fiscal.
The company said revenue in the BRIC countries (Brazil, Russia, India and China) increased 41 per cent over the year-ago period, which accounted for 10 per cent of the total HP revenue.
"The strength of our portfolio, leaner cost structure and accelerating market momentum give us the confidence to raise our full-year outlook," the company's Chairman and CEO Mark Hurd said.
HP is expecting revenue between $29.4 billion and $29.7 billion in the second quarter of 2010. HP's sales of personal computers, printers and servers increased during the quarter, driving the company's first quarter result.
The company witnessed a 20 per cent year-on-year sales jump in personal systems unit to $10.6 billion and a 4 per cent surge in revenue from its printing unit to $6.2 billion. Revenue from enterprise storage and servers division stood at $4.4 billion, up 11 per cent.
Services was the only division of HP which saw decline in revenues. The company's revenue slipped by 1 per cent to $8.7 billion.
In terms of geographical locations, the company has generated a revenue growth of 26 per cent over the year-ago period in the Asia Pacific region to $5.4 billion in the first quarter of 2009.
HP's revenue was up 9 per cent in America to $13.6 billion and inched up by only one per cent to $12.1 billion in Europe, West Asia and Africa.
