HP has announced the company’s financial results for its third fiscal quarter ended July 31, 2007, with net revenue of $25.4 billion, representing growth of 16% year over year, or 12% when adjusted for the effects of currency.
Countries across Asia-Pacific and Japan (APJ) performed well, with 14 out of 15 countries in the APJ region outpacing their local markets. Overall, APJ posted US$4.6 billion in revenue for Q3, with a 22 percent year-on-year growth in revenue –more than double the rate of the market.
“This is a new quarterly revenue record for the region. All of HP’s business groups in APJ grew double digits and delivered their best quarterly performance for FY07,” said Tom Iannotti, Senior Vice President and Managing Director, HP APJ. “Apart from strong growth in India and China, operations in Southeast Asia also turned in double-digit growth.”
Iannotti highlighted the performance of the Personal Systems Group (PSG), which set new records for growth and revenue while making strong gains in market share during the quarter.
HP’s Enterprise Computing business also performed well, spurred by the introduction of HP BladeSystem’s c-Class as well as by investments in sales and marketing. The segment maintained its dominant market share position for blades, according to IDC data. Meanwhile, Enterprise Software such as Mercury and OpenView helped strengthen HP’s portfolio of enterprise offerings and revenue.
The third quarter also demonstrated how HP is being recognized not just as a printer manufacturer, but as a true leader and innovator in printing. HP’s Imaging and Printing Group (IPG) continued to deliver strong growth through its LaserJet and InkJet printers, as well as supplies. Other contributors to growth included printing technologies and services designed to help enterprise customers better meet their printing needs, such as managed print services and the new Enterprise-level Multifunction Printers with Edgeline Ink Technologies that deliver richer, true-to-life color.
“To sum up, while Q3 was a good quarter for APJ, we still have plenty of work ahead of us. We take our position as the world’s leading IT company seriously. HP will continue to invest in training its sales force and leadership to deliver high-performance results and satisfy our customers,” Iannotti concluded.