Orders at HPup by $2bn

MAGNUS GRIMOND

Shares in Hewlett-Packard jumped on Wall Street yesterday, after the computer maker reported much better than expected orders and earnings for the third quarter.

The company said strong worldwide growth had pushed product orders for the three months to July to $8bn (pounds 5bn) from $6bn a year ago. HP also announced net earnings of $1.09 per share for the quarter, against just 66 cents in the same period of 1994 and well ahead of analysts' estimates of around $1.01.

The news propelled the shares $37/8 ahead to $813/4 by midday on Wall Street yesterday, pulling other technology issues up in their wake.

"It was an excellent quarter in most respects", according to Lewis Platt, Hewlett-Packard's chairman and chief executive. "Order and revenue growth was outstanding, helped in part by the timing of some product introductions, which mitigated the impact of normal seasonal factors."

"This quarter's outstanding order growth puts us in a strong position as we start the fourth quarter," Mr Platt said.

Orders rose 39 per cent to $6.3bn in the computer business. The company said excellent growth in personal computers, Unix-based multi-user computers and printers was behind the increase.

Within the personal computer operation, the company said there was broad strength in desktop machines, servers and network products. Improved availability and outstanding acceptance of recently introduced products were key drivers of PC order growth, it added.

Total group orders rose 34 per cent to $3.7bn within the US, while orders from outside the country advanced 35 per cent to $4.3bn, or 54 per cent of the company's total.

The company said operating expenses rose 16 per cent over the comparable period's figure, representing 26 per cent of revenue compared with 28.7 per cent in the 1994 quarter.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Sales Assistant / Buyer

£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....

Recruitment Genius: Compliance Manager

£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...

Day In a Page

The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'