HP Posts Hurd’s Last Quarter
Mark Hurd had "left HP in great shape,” said his interim replacement CFO Cathie Lesjak

Hewlett-Packard posted Mark Hurd’s last quarter Thursday delivering earnings up 6.1% to $1.77 billion, or 75 cents a share, on revenues up 11.4% to $30.7 billion, a tad better than what the company projected the numbers would be on August 6 when the board forced Hurd to resign. Its operating margin fell from 8% to 7.6%

It repeated that it would do $1.25-$1.27 on $32.5 billion-$32.7 billion this quarter.



Hurd’s interim replacement CFO Cathie Lesjak (pictured) said, Mark Hurd “left HP in great shape.”

Revenue from services, however, on which much of the company’s vaunted strategy depends, was up only 1% to $8.6 billion.

PCs were up 17% to $9.9 billion on unit shipments up 12% while profits were up 21%. Notebook revenue was up 10%, while desktop revenue was up a surprise 27%. Commercial client revenue was up 25%, while consumer client revenue increased 12%. PC chief Todd Bradley said there was some “softness” in the laptop sector and that back-to-school sales started late.

HP’s Enterprise Storage and Servers (ESS) business was up 19% to $4.4 billion. Industry standard server revenue increased 31%, with storage up 10% and business critical systems revenue down 15%. Blade revenue was up 29%.

Software revenue increased 2% to $863 million.

Printer revenue increased 9% to $6.2 billion while profits were up 4.2% Supplies revenue was up 5%, while commercial hardware revenue and consumer hardware revenue increased 28% and 4%, respectively.

Geographically third-quarter revenue was up 12% in the Americas to $14.2 billion. Revenue was up 9% in EMEA to $10.9 billion and up 14% in Asia Pacific to $5.6 billion. Revenue from outside of the US accounted for 63% of total revenue, with revenue in the BRIC countries up 21% or 11% of total HP revenue.

About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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