HP Reports 3Q Profit Nov 25, 2009

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Hewlett-Packard reported a 14% jump in 3Q profit. Income for the period ended Oct. 31 was US$2.41 billion, up from $2.11 billion, in the year-earlier period. Revenue declined to $30.77 billion from $33.6 billion. HP's operating margin grew to 10.2% from 8.2%.

Revenue decreased 3% in the Americas, and dropped 17% in the Europe, Middle East and Africa region, and 1% in Asia Pacific. Revenue from outside the U.S. accounted for 64% of the total.

The core personal-computer business posted a profit decline of 25%, while the segment's unit shipments were up 8%. Notebook-computer revenue fell 8%, while desktop-computer revenue declined 16%. Earnings in the services segment improved 53%. Earnings at HP's printer unit increased 1.4%. The company's software earnings increased 11%.

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