News

HP Bullish on Tech Growth

Count Hewlett-Packard Co. as the latest tech giant to be optimistic that an IT recovery is under way.

The company on Wednesday said revenues were up 8 percent year-over-year for the quarter ended Jan. 31, with profits jumping 25 percent.

Even more encouraging, the company raised its outlook for the full year, saying revenues could top $122.5 billion, up from a previous target of $119 billion.

HP, the largest provider of PCs, servers and printers and a key provider of services, is the latest tech company to post encouraging results. Microsoft, Intel and Cisco, among others, also reported a strong quarter.

"HP is well-positioned to outperform the market," said HP chairman and CEO Mark Hurd, in a statement.

PC sales of $10.6 billion were up 20 percent with a 26 percent increase in shipments, HP said. Revenues for its Enterprise Storage and Services business were at $4.4 billion, an 11 percent increase.

That business was buoyed by a 27 percent revenue boost in industry standard servers, while HP's storage revenue was down 5 percent and its Business Critical Systems revenues decreased 22 percent. Its blade server business was strong with revenues up 24 percent.

Its services and software business were effectively flat while printing and imaging sales were up 24 percent, HP said.

About the Author

Jeffrey Schwartz is editor of Redmond magazine and also covers cloud computing for Virtualization Review's Cloud Report. In addition, he writes the Channeling the Cloud column for Redmond Channel Partner. Follow him on Twitter @JeffreySchwartz.

Featured

  • The 2020 Microsoft Product Roadmap

    From the next major update to Windows 10 to the next generations of .NET and PowerShell, here's what's on tap from Microsoft this year.

  • Premium-Level Azure AD Coming to Microsoft 365 Business

    Users of Microsoft 365 Business will be able to access Azure Active Directory Premium P1 licensing free of charge, Microsoft said this month.

  • 2020 Microsoft Conference Calendar: For Partners, IT Pros and Developers

    Here's your guide to all the IT training sessions, partner meet-ups and annual Microsoft conferences you won't want to miss. (Now updated with COVID-19-related event changes.)

  • Curvey Stone Steps Graphic

    Microsoft Makes Run at 5G, Edge Computing with Azure Edge Zones

    Microsoft is promising to enable new edge computing scenarios for partners and developers with Azure Edge Zones, which became available as a preview this week.

RCP Update

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.