Hewlett-Packard reports improved profits

Hewlett-Packard reports improved profits

Hewlett-Packard is the world’s largest seller of computer printers and the second largest maker of personal computers. And the company has just reported in their revenue reports that their first-quarter profit rose 30 percent as holiday demand drove sales.

The earning forecast for the company in the current quarter is also above the market expectations from the company. HP shares also gained due to this positive outlook from the company in the stock market.

The company reported that their net income rose to $1.23 billion or 42 cents a share. This is an improvement from $943 million, or 32 cents, a year earlier. Sales were up to an impressive $22.7 billion in the period ended Jan. 31.

Hewlett-Packard also gained massively due to improved PC business where sales almost doubled during the quarter.