HPs Profit Up 26 Percent

By eweek  |  Posted 2004-11-22

Hewlett-Packard rebounded from a shaky third quarter when it announced a 26 percent increase in its fourth-quarter profit last week. The company said it had higher sales in all its main business areas, including its storage and services division.

Officials said HP earned $1.09 billion in its fourth quarter, compared with $862 million during the same period last year.

The storage and services division, which posted a loss of $208 million on $3.35 billion in sales in the prior quarter, came back to life in HPs fourth quarter, posting a profit of $107 million on $4.1 billion in revenue.

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