HP Profit Rises 16 Percent
HP Tuesday reported that its quarterly profit rose 16 percent over the same time last year. The computer giant posted a $2.6 billion profit and sales that rose 4 percent to $32.3 billion.
According to CNN Money, the profit was above analyst expectations but the sales were below them.
"Going forward, we have the opportunity to further capitalize on our customers' demands for higher value-added solutions," Leo Apotheker, HP's recently-appointed president and chief executive officer, said as part of the announcement.
"HP has a powerful portfolio, including exciting, recently announced cloud and connectivity offerings. We are focused on leveraging these strengths to extend our leadership and accelerate growth."