HP reported revenue for its fiscal third quarter to July up 1 percent year-on-year to USD 27.6 billion. Growth was led by its computer business, where revenues rose 12 percent year-on-year. HP grew both in the consumer and business segments, with total unit sales up 13 percent. At its Enterprise division, revenue rose 2 percent, with servers up 9 percent and networking revenue growing 4 percent. Enterprise Services revenue was down 6 percent year over year, and Software revenue fell 5 percent.
HP's net earnings fell to USD 0.52 per share from USD 0.71 a year ago due to restructuring costs and were below the company's outlook of 59-63 cents. Adjusted EPS rose to USD 0.89 from USD 0.86, in line with HP's guidance.
HP CEO Meg Whitman said she was "very pleased" with the company's progress and had increasing confidence in HP's turnaround. For the fiscal fourth quarter, HP forecast adjusted EPS of USD 1.03-1.07 and reported EPS of USD 0.83-0.87.
