HP Reports Revenue, Earnings Increases
• Enterprise Servers, Storage and Networking (ESSN) revenue grew 22 percent year over year with a 14.7 percent operating margin. ESSN delivered a solid quarter, demonstrating increased value to customers as they transition to hybrid cloud environments through a converged infrastructure, including innovations in servers, storage and networking.
• HP Software revenue grew 5 percent year over year with a 17.6 percent operating margin. HP Software expanded its security footprint with the integration of Fortify and ArcSight during the quarter.
• Financial Services revenue grew 15 percent year over year with a 9.6 percent operating margin. Financial Services growth was driven by both double-digit growth in lease volume and a healthy improvement in portfolio assets.
For the second quarter of fiscal 2011, HP estimates revenue of approximately $31.4 billion to $31.6 billion. It expects full year fiscal 2011 revenue in the range $130 billion to $131.5 billion.
More information on HP’s quarterly earnings, including additional financial analysis and an earnings overview presentation, is available on HP’s Investor Relations website at www.hp.com/investor/home.
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at www.hp.com.
Source: Financial release.