Hewlett Packard profits up

World’s largest personal computer maker Hewlett-Packard has come out with their latest quarterly report and the company has posted a 28 percent improvement in quarterly profits.

HP gained from improved sales of laptops and printer ink.

The company has now announced that they have authorized an additional $8 billion for stock buybacks. This means that Hewlett Packard believes that their share price is undervalued at the stock market.

HP reported that their income rose to $2.16 billion, or 81 cents per share.

They now have a 20% market share compared to around 15% for Dell. Their laptop sales were up 49 percent over last year to $5.16 billion.