HP Profit Rises; PC Sales Slide

HP Tuesday reported a second quarter profit of $2.3 billion, a 5 percent increase over the same time last year, attributing the rise to growth in the commercial sector.

However, the company also reported "uneven consumer performance" across all categories and "continued softness" of consumer PC sales.

“HP executed well and delivered a solid quarter,” Léo Apotheker, HP president and chief executive officer, said as part of the announcement. “Our enterprise strategy, with services at its core, is focused on higher value-added solutions. Today we are accelerating our efforts to align our services business model to our long-term strategy to deliver unprecedented value to our customers and a better return for our shareholders.”