HP Reports 16% Rise in Quarterly Profit
May 22, 2008
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Computer maker Hewlett-Packard (HP) reported a rise in profits for the three months to the end of April, boosted by demand outside the United States.

The company’s quarterly net income was US$2.1 billion, up 16% on the previous year. HP was helped by strong sales overseas where it generates two-thirds of its revenue, with the fastest revenue growth in emerging economies.

Revenue grew 16% in Europe, the Middle East and Africa to $11.9 billion
The company increased its profit target for the year to be between $114.2 billion and $114.4 billion, up from previous guidance of $113.5 billion to $114 billion.

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