Hewlett-Packard Co. reported a 28% increase in fourth-quarter profit, thanks to surging laptop sales and continued strong demand for printer ink. The company authorized an additional US$8 billion for stock buybacks. Excluding one-time charges, HP's profit was $0.86 per share. Sales increased 15% over last year to $28.29 billion. In the upcoming first quarter, HP expects earnings of $0.75 per share or $0.80 per share, excluding the amortization of intangible assets, and it predicts revenue between $27.4 billion and $27.5 billion.
to Daily News