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Tuesday, November 26, 2013
HP Reports Improved Fourth Quarter Results

Hewlett-Packard's fourth-quarter revenue has higher than expected helped by sales from its enterprise group.

HP posted revenue of $29.1 billion. Revenue fell across most of HP's business divisions except the enterprise group, whose sales edged up 2 percent to $7.6 billion. Sales from HP's PC unit slipped 2 percent to $8.58 billion while the printing division's sales dipped 1 percent to $6.04 billion.

"Through improved execution, strong cost management, and with the support of our customers and partners, HP ended fiscal 2013 on a high note," said Meg Whitman, HP president and chief executive officer. "Our Q4 results demonstrate that HP's turnaround remains on track heading into fiscal 2014. While we still have much more work to do, our business units and their core assets are delivering on HP's strategy to help customers thrive by providing solutions for the New Style of IT."

Hewlett-Packard is behind in mobile computing, where consumers are shifting from notebooks to tablet computers and smartphones.

In the corporate computing market, Hewlett-Packard is squaring off against Cisco, EMC, Oracle, IBM and Dell.

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