HP quarterly revenue up 8%, profits up 10% 13
Mon, 22 Nov 2010 7:07 pm EST 
HP today posted their fourth quarter 2010 financial results, and as expected, revenue and profits were up over the year prior. Specifically, revenue rose $2.5 billion (8%) to $33.3 billion, while profits rose 10% to $4 billion.
Bringing the fiscal year to a close, through FY2010 HP netted $126 billion in revenue (up 10% from FY2009) and profits of $14.6 billion (a 15% increase from last fiscal year). That kind of profit comes in handy when you’ve been on a buying spree. Revenue in each of HP’s major divisions was up, with the Palm-containing Personal Systems Group posting a 4% revenue increase. Palm’s contribution to the Personal System Group’s $10.3 billion in revenue was negligible: Palm falls under the 2% “other” slice in the division’s revenue pie (notebooks accounted for 55%, desktops were 38%, and workstations held down the remaining 5%).
For the next quarter, HP is estimating revenue around $33 billion, up from the $31 billion reported for the first quarter of 2010. For the entire 2011 fiscal year, HP is forecasting revenue between $132 billion and $133 billion, a 5% increase over the current year. For those concerned about new CEO Léo Apotheker, he had this to say of his first three weeks at HP: “I’ve been listening, I’ve been learning, I’ve been immersing myself in the business.”
Source: HP
13 Comments
well this is good news.
I'm #2. Just call me poo-poo man.
HP is Palm's sugar daddy :)
HP is Palm's sugar daddy :)
2.0 or we go. Now make a phone that'll acually pay for itself.
When do you think Palm will hit it's first $1 billion in revenue for HP? That's not in a quarter, but for the whole year.
not forr awhile 1 billon is alot of money
$1 Billion in revenue is NOT a lot. Palm can easily accomplish this with only 5 to 10 million WEBOS devices sold. Considering we will get 5 new devices in 2011 including a Tablet and probably a Webos Printer, we are talking about 1 million or so units sold per new device....The Galaxy Tab already sold 600,000 units...a WEBOS tablet would kill the Galaxy, specially with well positioned Shelf space as announced by HP. In 2011 Palm will hit $1 Billion in revenue easily.
Let's hope that translates to lots of great new webOS devices.
If they put one of those new 2.3 billion they made this year into webOS advertising, I'm sure we'll see something interesting come out of it.
HP Palm is so slow,
2.O or we go.
For only as we veterans know,
A promise makes not a deal sold.
Hey, does anybody know where I can get cheap name-brand clothing and accessories?
HP would need to sell 6 million devices at $200 each to go over 1 billion. If they spend a billion in advertising webos products they may make 1 billion by 2012. I think you are looking at around 3 years not including printers because hp already sold printers I can not in good conscious include them. No one is going to buy a printer because webos is on it. When is the last time you printed something at the printer. I have an HP printer "Office Jet 7210" and only print from computers. If HP does it right though they can have webos back around the top of the hill in 3-5 years.